What is financial advertising?
Firms advertising financial products or services must make sure their promotions are fair, clear and do not mislead you. Promotions can be:
- adverts in the media (eg radio, press, television);
- direct mail sent to your home;
- leaflets or posters;
- letters to customers;
- shop window advertising;
- telephone calls;
- teletext;
- emails; and
- websites.
If we find that an advert is misleading we may do any of the following:
- ask the firm to change the advert;
- ask the firm to withdraw it;
- ask the firm to write to customers who may have been misled and compensate them if they’ve lost money as a result;
- warn the firm; or
- fine the firm.
Help us raise standards
You can help by reporting adverts to us relating to most financial products and service – for example if they’re about:
- stakeholder pensions;
- investments such as:
- bonds or gilts;
- structured products;
- shares/stock in a company;
- units in collective investment schemes;
- endowment plans;
- options, futures and Contracts for Difference;
- individual savings accounts (ISAs);
- stakeholder and non-stakeholder investment Child Trust Funds; or
- funeral plan contracts;
- deposit and savings accounts;
- insurance such as:
- household and motor;
- travel;
- payment protection or critical illness;
- private medical insurance; or
-
extended warranties
(but not general insurance mediation services) - most mortgages;
- home reversions;
- home purchase plans (also known as Islamic mortgages);
- sale-and-rent-back schemes; and
- financial advice about any of the above products.
To see what might be classified as ‘unfair, unclear or misleading’ see What to look out for.
Matters concerning ‘non-technical’ elements of financial advertisement, such as taste and decency or social responsibility, are regulated by the Advertising Standards Authority (ASA).