FIN.

FCA updates on financial promotions

Following onshoring changes made to the FPO post-Brexit, the definition of “Relevant Market” inadvertently no longer includes relevant UK markets. This means the exemptions under Articles 37, 41 and 67-69 FPO do not cover financial promotions relating to relevant UK markets or investments traded on such markets.

These exemptions will be restored by Government Statutory Instrument and until such date as this SI comes into force, the FCA will not take enforcement action for breach of the financial promotion restriction if such breach only comes about because the relevant exemption no longer applies on account of this omission.

Lucy Hadrill