Fin proms gateway takes effect

The FCA’s financial promotions gateway has come into force. From 7 February 2024, all authorised persons that want to approve fin proms for unauthorised persons will need FCA permission to do so (subject to certain exemptions).

Firms which applied at the gateway can continue approving financial promotions for unauthorised persons whilst the FCA determines their application. Firms which did not apply at the gateway by the 6 February deadline will not be able to approve fin proms unless they are exempt or until they have successfully applied to the FCA for a VOP.

The FCA has also substantially updated its webpage on approving financial promotions to reflect the fact that the gateway has come into force.

Lucy Hadrill