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Marketers alerted to FSA ad threat

Marketing consultancy Touchdown Integrated Marketing is warning financial firms that compliance will need to become a core part of marketing if they are to prevent themselves falling foul of FSA&#39s new rules on advertising.

It says the main impact of the FSA&#39s approach to regulating financial ads, set out last month, is for marketing departments to be aware of the move to encourage consumers to spot and challenge advertisements they see as misleading.

Touchdown is also warning mortgage lenders to be ready for regulation in 2004 and ensure their advertising fits FSA guidelines.

The FSA is placing the burden on senior management so Touchdown says the marketing director and chief executive of a company must take a leading role in guiding marketing strategy.

It is warning companies to ensure that promotions carry all the information on charges and commission that consumers should know about.

But it says it is important that creativity and innovation are not stifled by the need to meet FSA requirements.

Chairman John Finan says: “During my time working with financial institutions, I liaised closely with regulatory authorities and our in-house compliance teams so I am aware of the impact of this legislation. I welcome the increased emphasis upon self-regulation and the pressure this will bring to move compliance from being a separate function to one that is diffused throughout the organisation.”

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