Financial Promotion—Time for a Policy Re-Think

John Crosthwait

Solicitor, Slaughter and May, London.

jcls Vol 2 Issue 2 (December 2002)

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Abstract

Restrictions on the marketing of financial products and services form one of the oldest aspects of securities regulation in the UK. This article argues that these restrictions should be reconsidered in the light of the many profound changes to that system of regulation, which have occurred since the restrictions were first introduced. Their present functions are questionable, and they are now so widely drawn that they can have quite undesirable consequences.

Keywords

exemptions, financial promotion, financial services, fraud, investor protection, overseas firms, proportionality, securities regulation, company law