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British financial watchdog toughens rules on high-risk product ads

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Reuters UK

By Huw Jones LONDON (Reuters) – Britain’s financial watchdog finalised tougher rules on Monday for advertising high risk products, such as peer-to-peer loans and the mini-bonds sold by investment firm London Capital & Finance (LCF), whose collapse led to a government bailout of investors. The Financial Conduct Authority (FCA) said firms approving and issuing marketing material must have “appropriate expertise” and conduct better checks for ensuring that customers understood the risks involved. “Firms also need to use clearer and more prominent risk warnings and certain incentives to invest, su…

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