View more on these topics

Forum starts dialogue between FSA and marketers

A financial promotions action group is being formed by the FSA and senior marketing professionals to promote best practice in the marketing of financial products.

The regulator’s financial promotion team and industry marketers will meet at the Royal Society of Medicine in London on October 6 to launch the group.

FPAG aims to open up a dialogue between the industry and FSA to identify a common approach to marketing. It will try to anticipate marketing issues that could affect the industry and to suggest solutions. It will also carry out ongoing research into consumer comprehension of communications.

A spokesman for FPAG says one of the key issues in financial marketing is maintaining effectiveness within a regulatory environment while ensuring that promotions are clear, fair and not misleading.

Marketing directors and heads of compliance will be invited to attend next month’s forum, along with FSA representatives including financial promotions department manager Chris Atkinson and author of Commonsense Direct Marketing, Drayton Bird. FPAG conference convener Sean Larrangton-White says: “The FSA has encouraged firms to contribute to policy discussion under the general umbrella of its Treating Customers Fairly initiative. What we are looking to do is help the FSA work with the grain of the market towards a market-based solution shaped by industry professionals. Our aim is to preserve the best of marketing techniques whilst maintaining necessary consumer protection.”

Recommended

Profits leap for Friends

Friends Provident saw profits soar by almost half in the first six months of this year. Life and pension business rose by 15 per cent from 176m to 202m on an APE basis. This compares with average market growth of around 5 per cent, after stripping out a single one-off deal between Prudential and Resolution […]

Greenwood storms into insurance stocks

Investing in insurance stocks in the wake of Hurricane Katrina is a way to capitalise on kneejerk valuations, says Iimia growth manager Nick Greenwood. Greenwood has invested a portion of the 15m Iimia growth portfolio in the Hiscox insurance portfolio fund, which invests globally in insurance companies and has a one-third exposure to insurers affected […]

In the works

Group schemes Hargreaves Lansdown pensions research manager Tom McPhail says Sipps have exciting potential in the workplace and looks at how plan design is progressing

NAPF wants independent body

The National Association of Pension Funds is calling for a new independent standing commission to report to the Government on the impact of economic, demographic and social changes on Britains pensions system, and to advise ministers on the measures necessary to maintain the UK pension system in the long term.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment