FCA Says It Will Act If Google Breaks Financial Promo Rules
Law360, London (June 14, 2021, 6:43 PM BST) -- Britain's finance watchdog will take action against Google and other online companies that allow unauthorized firms to promote investment opportunities in a bid to scam consumers, a senior regulator said Monday.
Mark Steward, director of enforcement at the Financial Conduct Authority, told senior MPs that the Financial Services and Markets Act 2000 means financial promotions can be communicated only by a company authorized by the City watchdog — yet unauthorized firms are using social media websites and search engines to advertise fraudulent investment opportunities to consumers.
Steward said the FCA will begin taking action against search engines and social media sites...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!