Navigating the New FCA Gateway: Ensuring Compliance for Financial Promotions

1
Introduction to FCA Consumer Protection for
Financial Promotions

• Overview of the current legislation allowing
  FCA-authorised firms to approve financial
  promotions for unauthorised persons.
• Introduction of the new authorisations gateway by
  FCA to enhance consumer protection.
• Purpose of the new gateway to ensure rigorous
  screening of authorised firms before they can
  approve financial promotions.

2
Background and Legislative History

• Summary of the UK Treasurys consultation in July
  2020 on the Regulatory Framework for the
  Approval of Financial Promotions.
• Confirmation of the new regulatory gateway under
  the Financial Services and Markets Act 2000
  (FSMA).
• FCAs role in the consultation process and the
  proposals to strengthen the framework.

3

• Criteria for assessing applications at the
  gateway.
• Conditions for granting or refusing applications.
• Bi-annual reporting requirement for firms granted
  permission.
• Mandatory notification to FCA within 7 days for
  any approval, amendment, or withdrawal of a
  financial promotion.

Key Proposals for the New Gateway
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Impact and Who Should Respond

• Stakeholders affected authorised firms,
  consumers, cryptoasset market operators,
  prospective applicants, and relevant trade
  bodies.
• Implications for unauthorised persons who get
  their financial promotions approved.
• Importance of responding to the FCA consultation
  by 7 February 2023.

5

• How to participate in the consultation and
  provide feedback.
• Encouragement to send comments or enquiries to
  CP22-27_at_fca.org.uk.
• MEMA Consultants support compliance services
  and regulatory guidance.
• Contact details for further assistance and
  consultation.

Next Steps and Contact Information
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