Social media compliance guidelines,social media privacy,area jobs - PDF 2016

22.04.2015
The PRA, which is part of the Bank of England, is now prudential regulator for banks, building societies, and credit unions (collectively deposit-takers), insurers, and major investment firms. If communication through electronic mediums (websites or social networks) invite or induce a person to engage in investment activity, it will be considered a financial promotion. However, there is nothing that specifically deals with financial promotion made via social media.


If communications and financial promotions are not compliant with the guidelines above, the FCA is also empowered to ban them.
Marketing teams will need to be extra diligent in producing clean and accurate descriptions, and compliance teams will need to ensure they have robust approval procedures in place.





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