‘Clear’, ‘fair’ and new media

Complying with regulations on traditional financial promotions is tricky enough, so applying the rules to modern communication techniques – many of which are instant, hard to control and far more powerful than the quill pen – can be a nightmare. Adam Samuel has consulted on financial promotions related to websites, mass emailing and can also be found trying to have firms’ Facebook and LinkedIn pages removed before the regulator spots them. He tackles some problem areas.

Adam Samuel BA LLM DipPFS MCISI Barrister Attorney may be contacted at AdamSamuel@aol.com. His book, ‘Complaints and Compensation: a Guide to the Financial Services Market’, is available from his website, www.adamsamuel.com.

Any discussion of new media and financial promotion regulation has to begin with a few basic principles. After all, the modernity of technology has no effect on the legality or compliance or otherwise of a financial promotion. Older media like television and even radio pose many of the same problems. Even an advertisement at a train station – perhaps the oldest form of regulated advertisement – has a great deal in common from the compliance perspective with a tweet.