FSA Received Request to Regulate Online Financial Distribution

Added by on September 21, 2010

Bigmouthmedia has requested the Financial Services Authority (FSA) to regulate online financial distribution by  outlining particular guidelines. Bigmouthmedia recently published a white paper through which it called the FSA to settle specific guidelines that would manage online sales of products and services. Many UK-based marketing spenditure is currently being done online but there is no regulation on how to manage the online financial marketing.

Bigmouthmedia published a white paper that enlightened the mounting reason with regard to online sales management issues. Although the internet brings its unique set of condition,  the FSA is still  required to regulate this online market. Dashboard Money CEO Gavin Littlejohn said that the ‘paper on the regulation of online financial distribution makes some very interesting observations on the distinction between online and offline financial promotion, and the need for greater flexibility in the online world to build up the picture for the consumer, rather than trying to deliver all the jargon and protection information in the single advert view.’

According to a statement of Bigmouthmedia’s finance strategist, Chris Cathcartthe, the FSA should institute specific guidelines in the form of a set which could help financial services to advertise justly and efficiently. According to a recent survey, consumers aren’t satisfied with the current way in which financial services are being sold to them online.