Firms involved in marketing across all forms of media will be coming together at a conference and workshop in early October to launch the Financial Promotions Action Group.
The forum will help senior marketers in financial services share best practice within the Financial Services Authoritys financial promotions regulations.
One of the key issues in financial marketing is maintaining marketing effectiveness within a regulatory environment whilst ensuring promotions are clear, fair and not misleading.
Marketing directors and heads of compliance have been invited to the workshop.
FPAG has a broad remit. It will provide a common platform to share experiences and concerns; identify a common approach and year-round action plan; open up a dialogue with the FSA and anticipate issues coming over the horizon; provide ongoing research into consumer acceptance and comprehension of regulated communications; provide market-friendly alternatives to regulated communications.
Sean Larrangton-White, an award-winning direct marketing practitioner, who is convening the conference, says: The FSA has encouraged firms to contribute to policy discussion under the general umbrella of its Treating Customers Fairly initiative. What we are looking to do is help the FSA work with the grain of the market, towards a market-based solution shaped by industry professionals. Our aim is to preserve the best of marketing techniques whilst maintaining necessary consumer protection.