20 Financial promotion
Financial Services and Markets Act 2023 (2023 c 29) | Legislation

Financial promotion

20  Financial promotion

(1)     FSMA 2000 is amended as follows.

(2)     In section 21 (restrictions on financial promotion), after subsection (2) insert—

“(2A)     The content of a communication may be approved for the purposes of this section by an authorised person only if the giving of the approval—

(a)     is permitted under section 55NA (which enables approval to be given with FCA permission), or

(b)     falls within an exemption conferred by regulations under section 55NB.”

(3)     After section 55N insert—

“55NA General requirement relating to financial promotion approval

(1)     An authorised person must not approve the content of a communication for the purposes of section 21 unless the person has permission to do so given by the FCA under this section.

(2)     An authorised person who approves the content of a communication for the purposes of section 21 otherwise than in accordance with permission granted under this section is to be taken to have contravened a requirement imposed on the person by the FCA under this Act.

(3)     Permission may be granted by the FCA under this section on the application of—

(a)     an authorised person, or

(b)     an applicant for Part 4A

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