Financial Promotions
Any breach of the FSA’s financial promotions rules calls into question a firm’s commitment and ability to deliver the right consumer outcomes; in particular, the FSA may focus on the effectiveness of internal controls as well as the ‘training & competence’ aspect of publishing compliant promotions.
Huntswood has worked with a number of high profile retail
financial services firms on varying aspects of financial
promotions work, providing both consulting advice and interim
compliance support:
- We reviewed and redesigned the systems and controls
around communicating with customers for a global
insurance firm - We reviewed the financial promotions approvals process for a
top three UK life and general insurer - We were asked to intervene in a top ten life and general insurer which was undergoing enforcement action for non-compliant financial promotions
- We have provided outsourced financial promotions checking solutions to wealth managers, life and pension providers, utility companies, banks and financial advisor networks
