| Commentary

24 Building societies

| Commentary

24 Building societies

The Financial Services Authority (‘FSA’) regulates advertisements published by or on behalf of building societies in respect of their investment products in the same way as for all other financial promotions1.

As regards mortgages, the scope of the FSA’s regulatory regime is set out in the Financial Services and Markets Act 2000 (Regulated Activities) Order 20012. Subject to certain conditions set out in that Order, first charge mortgages are no longer regulated by the Consumer Credit Act 1974; instead they are subject to the FSA regime. As regards advertising for such mortgages, new rules have been in place

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