We recognise that social media are particularly powerful channels of communication and therefore of significant value to firms. We do not want to prevent their use. These media allow firms to contact their customers, and vice versa, both pre- and post-sale.
We remind firms that any form of communication (including through social media) is capable of being a financial promotion, depending on whether it includes an invitation or inducement to engage in financial activity.
The finalised guidance on social media intends to help firms understand how they can use these media and comply with our rules. We also remind firms that our rules are intended to be media-neutral, to ensure that consumers are presented with fair and balanced information at each stage of the customer journey.
Topics covered include:
• Re-tweets, forwarding and sharing.
• Inserting images.
• ‘Click-through' approach.
• Dynamic functionality.
• ‘In the course of business'.
• Approval and record keeping.