FSA Financial promotions – guidance – Prominence the FSA publish industry updates on issues or trends that the FSA identify through our routine Monitoring of financial promotions compliance. The aim of these publications is to capture emerging concerns and where necessary, to clarify our expectations of firms. These updates are meant to help firms understand the rules better, but they are no substitute for referring
to the rules themselves. firms should always ensure that the promotions firms produce comply with all
the relevant rules and guidance.
The FSA are aware from monitoring financial promotions that prominence can be interpreted in many different ways, often leading to inconsistent standards. Here the FSA attempt to clarify some of those inconsistencies.
When do the rules on prominence apply?
Prominence of relevant information plays a key role in ensuring that a communication is clear, fair and not misleading. As a consequence, a number of requirements for financial promotions within the Conduct of Business sourcebooks relate to prominence. Prominence is an important consideration for firms producing financial promotions across all product areas and for all media types – for example via the internet, television, press and other written communications.
There are many promotional features that must be considered in relation to prominence, such as: interest rates, fees, charges, relevant risk statements and other key product information. This list is by no means exhaustive and firms must ensure that they have checked all relevant areas of the Conduct of Business sourcebooks in ensuring that our expectations on prominence are addressed for all different product types and services.
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