if you run a finance/insurance related websites - FSA requirements.

[stevieboy1101]

if you run a finance/insurance related website, do you need to register with the FSA and post a disclaimer on your site. I vaguely remember a law coming into effect ?

thanks

 

[jbworldwide]

Firstly FSA is now FCA

As i understand you can talk about products and you can make comparisons between products but you cannot recommend ones for purchase as this then becomes advised sales. Same with marketing promotions for a single product or products.

I look it at like this; give someone all the facts but they have to read it understand and and decide for themselves (non-advised) then you are ok, but as soon as you say top-rated product or recommended you are on the edge and have to be very careful and if you say outright we have researched the market and you should buy this product then it is advised.

A lot of finance sites do become FCA registered to cover themselves but that adds compliance overhead to the business.

Hope that helps?

 

[pugyrob]

hi,

you only need to be FCA registered if you are giving advice or taking information on your site. To get round fca requirements you need to just offer facts and no advice, you can add banner links with affiliate ID's so that the data is taken off site. A disclaimer wont hurt for sure.

If you are doing decent business and want to take information on site or do more, you can work with an FCA registered company to become what is called an appointed representative (A/R) or (AIR) and they effectively carry the can for you compliance wise but need to vet you and see all content you add and do a full site audit.

Becoming FCA registered takes a few months and costs and there are hoops to jump through but it is certainly worth it in some cases.