The Code of Practice requires that we “comply with all relevant advertising codes and regulations” and recognise that “certain sectors have additional regulatory requirements.”
Financial services is one of the most heavily regulated sectors for marketing communications. Getting it wrong can result in FCA action against your client — and potentially against you.
Financial promotions in the UK are regulated by:
The FCA’s rules are particularly important because they have statutory force — breaching them isn’t just an advertising standards issue, it’s a regulatory offence.
Any communication that invites or induces someone to engage in financial activity. This includes:
All financial promotions must be:
This is the FCA’s overriding principle. Every financial promotion must satisfy this test. Content that’s technically accurate but creates a misleading impression still fails.
Benefits and risks must be given equal prominence. You can’t emphasise returns while downplaying risks, or use large type for benefits and small print for warnings.
The content should be appropriate for its likely audience. A promotion aimed at sophisticated investors has different requirements than one targeting retail consumers.
All claims must be backed by evidence. Performance figures, comparisons and statistics need supporting data.
The “clear, fair and not misleading” test
Before finalising any financial copy, ask: would a typical reader understand the key risks? Could they make an informed decision based on this? If not, the copy fails the test.
Many financial products require specific risk warnings. These aren’t optional marketing choices — they’re legal requirements.
“The value of investments can fall as well as rise. You may get back less than you invest.” This or similar wording is required for most investment promotions.
APR must be displayed prominently. For mortgages, “Your home may be repossessed if you do not keep up repayments on your mortgage.”
Warnings about the long-term nature of pensions and the impact of charges on growth.
“Don’t invest unless you’re prepared to lose all the money you invest.” Plus warnings that crypto is unregulated and that you won’t have FCA protection.
When advertising credit products (loans, credit cards, mortgages), you must include a “representative example” showing:
Representative examples must be up to date and based on current rates. The representative APR must reflect what at least 51% of customers would actually receive. You can’t advertise a rate that only the best-qualified applicants might get.
Representative example: Borrow £10,000 over 36 months at 9.9% APR representative. Monthly repayments of £322.67. Total amount repayable £11,616.12.
Representative examples required
Any of these “triggers” require a representative example: APR, interest rate, amount of credit, repayment amount, duration, or any statement suggesting credit is available.
Using testimonials or performance data in financial promotions has strict rules:
Financial promotions must usually be approved by an authorised person before publication. This affects how you work with financial services clients:
The client’s compliance team or an external compliance consultant. They’re responsible for ensuring promotions meet FCA requirements.
Always get written sign-off on financial copy. If a client approves something that later proves non-compliant, you need a paper trail showing they took responsibility.
Your liability
The FCA can take action against anyone involved in creating or approving a misleading financial promotion, including copywriters. Take compliance seriously.
Working successfully in financial services copywriting:
Financial services copywriting requires understanding regulatory requirements, not just marketing principles. The stakes are higher because non-compliant promotions can result in FCA action, fines, and reputational damage.
Your job is to create compelling copy that works within these constraints. That means understanding the rules, working closely with compliance teams, and pushing back when clients want to cut corners.