UK Financial Services Authority Promises Ad Clampdown

25 September 2003

Britain’s Financial Services Authority is preparing a clampdown on misleading ads for investment offers.

The regulator’s new ceo John Tiner, in his first speech since taking up the role, told the City that the FSA wants to act more quickly when inaccurate information is released. To this end, lawyers are currently investigating just what the agency is legally entitled to do.

“As an organisation focused on delivery, we must have a ‘can do’ approach,” Tiner declared. “We need to be able to act swiftly and decisively when necessary.”

The new FSA chief also wants to set up an advisory group to investigate how to improve consumers’ understanding of financial affairs.

Data sourced from: Times Online (UK); additional content by WARC staff