| Commentary

21.1 Financial promotions

| Commentary

C: MANDATORY RULES

1: FINANCIAL ADVERTISING

21 Financial services

21.1 Financial promotions

The Financial Services and Markets Act 2000 underpins the United Kingdom’s mandatory control system for the advertising of financial products. The controls apply to all ‘financial promotions’. These are defined as any communication containing ‘an invitation or inducement to engage in investment activity’1.

To ensure compliance, all financial promotions must be conducted by a person authorised under the 2000 Act2, or must be approved by an ‘authorised person’3 or the advertisement must come within one of the exemptions4. In the case of a relevant communication originating outside the United Kingdom, the Act

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