The FCA has got its eye on social media marketing of buy-now-pay-later services (FCA/PA)
The City’s main financial watchdog has warned firms offering buy-now-pay-later services that they could be committing criminal offences if their promotions don’t include “fair and prominent warnings” of the risks the products pose to customers.
The Financial Conduct Authority says it has seen adverts on social media and websites -- including posts by “social media influencers” -- which breach the rules, and that such promotions should be approved by an FCA-authorised firm.
