Cathy Jamieson – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Cathy Jamieson on 2014-06-04.

To ask Mr Chancellor of the Exchequer, what recent discussions he has had on the development of guidance on the use of social media for promotion of financial services.

Andrea Leadsom

The Financial Conduct Authority (FCA) is responsible for conduct supervision of regulated financial firms, including their responsible promotion of products and services.

In 2010 the then Financial Services Authority issued some high-level guidelines on use of ‘new media’ – including social media – for such promotions. Since April 2013 the FCA has been engaging with industry, looking further at how social media interacts with FCA rules, and has committed to issue further guidelines later this summer.