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本篇paper代写- UK financial advertising regulatory mechanism讨论了英国金融广告监管机制。英国金融行为监管局及其前身金融服务局先后发布了一系列针对金融广告的监管规则，其中《营业行为规则》要求金融机构进行广告宣传时，必须遵循清晰、公平、不得误导等基本规则；《金融营销——个人储蓄账户广告及为投资专业人士服务的广告》指导意见对金融机构发布广告进行了八点风险提示；《社交媒体与客户沟通——基于社交媒体的金融营销活动指引》从风险提示、信息转发、审核记录等方面对金融机构使用社交媒体发布广告提出了要求并进行指导。本篇论文代写范文由51due代写平台整理，供大家参考阅读。

In recent years, the rapid development of China's financial advertising market, containing false, misleading content of the advertising frequently appear, infringement of the legitimate rights and interests of consumers occur from time to time, bringing huge losses to financial consumers. Therefore, to strengthen the regulation of illegal financial advertising has become an urgent problem to be solved. The advertising regulation rules issued by the financial conduct authority and the advertising standards authority of the UK and the cooperation mechanism between the two have certain reference significance for strengthening the multi-department financial advertising regulation cooperation in China, improving the efficiency of financial advertising regulation, protecting the legal rights and interests of financial consumers more effectively, and preventing and resolving financial risks.

The FCA put forward a review principle for financial advertisements that "clearly, fairly and without misleading the advantages of financial products while clearly stating their risks". The FCA and its predecessor, the financial services authority, have issued a series of regulatory rules on financial advertising, mainly including the "rules of business conduct" issued in March 2010, which requires financial institutions to follow the basic rules of clarity, fairness and non-misleading in advertising. In March 2012, the guidance of "financial marketing -- individual savings account advertising and advertising for investment professionals" was issued, giving eight points of risk warning for financial institutions to publish advertisements. In March 2015, social media communication with customers -- guidelines on financial marketing activities based on social media was released, which provided requirements and guidance for financial institutions to use social media to publish advertisements from the aspects of risk warning, information forwarding and audit records.

Established in 1962, the ASA is currently the highest body of the self-regulatory body for the advertising industry in the UK. In the UK, advertising is regulated mainly through industry self-regulation and a common regulatory system. Among them, industry self-discipline refers to the constraint of advertising industry rules on non-broadcast advertising. The non-broadcast advertising rules related to finance are the non-broadcast advertising rules for financial products. Co-regulation means that the British telecommunications regulator authorizes the self-regulatory body to regulate radio advertising. The rules for radio advertising related to finance are the rules for financial products, services and investment in radio advertising.

In December 2014, the FCA and the ASA signed a memorandum of understanding to facilitate and structure co-operation and coordination between the FCA and the ASA by clarifying their respective regulatory responsibilities, as well as arrangements for co-operation and exchange of relevant information. The main content of MOU is:

The FCA is the main regulator. The non-broadcast advertising field mainly includes newspapers, websites, social media, etc., and reviews the relevant parts related to the unique attributes of financial products. ASA also assists the FCA in reviewing other aspects of financial advertising that are not specific to the attributes of financial products.

The ASA regulates all financial advertising but seeks advice from the FCA.

ASA's regulations on non-broadcast financial advertising put forward the following requirements for advertisers' marketing communication: first, financial products in marketing communication should be introduced in an easy-to-understand way, and the calculation of product interest rate must be clear. Second, marketing communication should at least specify the nature of the marketing contract provided before entering into a binding contract, as well as the contract conditions such as fees and penalties. It must be clear that the value of investment is variable and cannot be guided or guaranteed by past marketing performance and experience.

The ASA regulation on non-broadcast financial advertising in MOU puts forward the following requirements for advertiser marketing communication: first, financial products in marketing communication should be introduced in an easy to understand way, and the calculation of product interest rate must be clear. Second, marketing communication should at least specify the nature, cost, penalty and other contractual conditions of the provided marketing contract before entering into a binding contract. It must be clear that the value of investment is variable and cannot be guided or guaranteed by past marketing performance and experience.

First, for advertisements of consumer credit, investment and complex financial products and services, it is the responsibility of the broadcasting station to centrally clean up, and only those who have the relevant authorization, comply with the financial promotion rules of the fair competition act, or are exempted from broadcasting under the foreign citizenship act can broadcast. The other is that the advertisement may involve the interest payable on savings, but it must be accurate and explain whether the interest rate is variable, the tax rate and the conditions that affect the income. All relevant restrictions must be attached to the specific amount guaranteed in the life insurance advertisement; References to income taxes and other tax benefits should be limited and specified, making it clear that "tax treatment depends on the individual's circumstances and may change in the future"; Advertisements are not allowed to directly or indirectly invite remittances to advertisers or any other person; Advertisements in paper or electronic publications shall not recommend specific investment offers. Three is usually think advertisements for the non-specialist audience, otherwise only in specialized financial channels or stations or related financial programs rest time, subject to administration of financial control, or to allow and spread betting advertising must obey the rules of the gambling, in addition to advertising, the difference between the contract provided only to prove through preview program related financial transaction experience of customers.

The first is that the FCA will refer to the ASA when dealing with financial advertising regulation issues outside its own authority, and the FCA can provide Suggestions or useful information to the ASA.

Second, some financial advertisements are broadcast in both broadcast media and non-broadcast media. ASA can handle the whole complaint instead of handing over the non-broadcast part to FCA, and FCA can handle the whole complaint instead of handing over the broadcast part to ASA. However, when investigating advertising complaints within the other party's purview, the other party must be informed.

It is involved in the financial attributes of financial products, to determine the financial advertising is unfair, unclear, misleading, ASA treatment clearly advertising campaigns, and unfair or misleading or is not allowed the complaints such as comparison, will be treated as reference FCA on investment business, deposits, family financial transactions, general insurance and pure protection policy, payment service, the elements of complaints or claims management activities.

The information that the FCA and the ASA can share when conducting an advertising investigation is as follows: first, information related to the advertising investigation, and information about a company or person that is useful to the other party. The second is the information that the ASA has that can explain the problems of FCA certified companies. Third, where appropriate, the FCA and ASA can negotiate and coordinate reviews, solicitation of evidence, and recommendations against each other.

In terms of the regulation of illegal financial advertisements, the FCA mainly adopts the following measures: first, it selects highly misleading and serious clues for further screening. The second is to set up a commission to decide whether to issue a warning to the financial institution under investigation. Third, financial institutions are required to remove illegal advertising and inform the reasons. Fourth, financial institutions are allowed to explain and provide evidence on the legality of their advertisements, and accordingly whether to modify, recall or implement previous decisions. If the financial institution does not recognize the FCA's administrative decision, it may apply for administrative review. Fifth, the relevant administrative penalty of illegal financial advertising shall be publicized.

Advertisers, publishers and advertising agents must take measures to remove or modify advertisements that are found to be illegal by the ASA. ASA's disciplinary measures against illegal advertising mainly include reputation punishment, transfer of complaints to relevant bodies such as the UK national trade standards organization, cancellation of industry awards, administrative penalties such as warnings, fines and license revocation, as well as pre-examination and cancellation of trade privileges.

At present, the laws regulating advertising behavior mainly include "advertising law", "anti-unfair competition law" and "consumer rights and interests protection law". As the main basis for the market supervision and regulation department to regulate commercial advertisements, these three laws have not made specific provisions on the supervision of financial advertisements. However, financial products and services are obviously different from general commodities and services, such as the invisibility of commodities and services, the particularity of financial transactions, and the professionalism of the financial industry. Financial advertising behaviors cannot be effectively regulated only according to the provisions of the advertising law. However, commercial Banks law, securities law, securities investment fund law and other financial laws and regulations have not clearly regulated financial advertising, and the provisions of the current laws and regulations are not operable.

According to the provisions of the advertising law, the market supervision and administration department shall be in charge of the supervision and administration of advertising throughout the country, and the relevant departments under the state council shall be responsible for the work related to the administration of advertising within their respective functions and duties. From the perspective of the main body, industry, content and media of financial advertising, financial advertising supervision involves multiple departments including market supervision, finance, industry and information technology, news, radio, television and public security. The current laws and regulations do not clearly define the division of duties and the scope of supervision among various departments, and do not form the joint force of supervision on illegal financial advertisements. In practice, problems such as "multiple supervision" and "supervision vacuum" are prone to occur. The unclear division of regulatory responsibilities leads to the absence of the pre-inspection mechanism, in-process monitoring mechanism and post-disposal mechanism for illegal financial advertisements. In many cases of fraud against financial consumers, individual cases can only be dealt with after the occurrence of problems.

It is suggested that financial advertising should be legislated separately. In terms of financial advertising regulation, it is better for the state council to formulate administrative regulations "financial marketing administration regulations" or "financial advertising administration regulations". With the high-level administrative regulations to unify and coordinate the financial, market supervision, broadcasting, press and publication general administration, industry and information technology and other departments to carry out financial advertising management. The legal provisions of administrative regulations should be closely linked to financial consumer rights and interests protection, the design of advertisement in financial supervision law, should be to protect the legitimate rights and interests of financial consumers as the core, focusing on financial advertising, finance, advertising content contains the necessary items and prohibitions, financial advertising censorship beforehand, shall be prohibited financial advertising behavior, illegal financial monitoring and identifying and disposal, illegal financial advertisements of civil liability, administrative penalties, and even criminal responsibility according to law to make clear a regulation, etc.

For the online and offline mainstream media, the market supervision and administration department shall promote the advertisement publishers to establish the registration system of financial advertisement release, so as to make the whole process of advertisement release leave traces and make the release traceable. And with the help of scientific and technological means to actively establish an organic combination of online and offline monitoring monitoring system; For illegal financial advertisements, the financial supervision department, the market supervision department and the public security department may sign a memorandum of understanding to establish a joint screening and cooperative disposal mechanism to cover the whole supervision process and chain.

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