FSA Guidelines?

[IntervisionMedia]

Tweet

Hi all,

I'm a Web Developer / SEO wanting to try my hand at affiliate marketing, A few of the sites that I'm starting out with are Loan, Mortgage, Credit Card and Insurance related.

I've read a few things about the FSA regulations on this forum, but most of the information seems to be dating back to 2004, links to guidelines etc seem to be dead - and I can't navigate the FSA site at all to find any useful information.

My site is currently mainly using OMGUK programmes, and is pulling creatives and editorials dynamically from the OMG network - I'm also signed upto Buy.at and Tradedoubler, but i'm unsure about actually using them as of yet, because I think the fact that text etc is pulled through the network, and from the merchant themselves plays as a factor with the FSA?

Could anyone point me in the right direction for information, and guidelines? And if anyone has any tips on compliance with the FSA e.g. what to do, and what not to do as far as you can understand it personally, then that would be great too.

Many Thanks,
Matthew

[drivetowin]

You are correct in thinking that the best way of complying with FSA is to get your content dynamically from OMG.

The rules for other content are different for different products - there are a few threads on this forum that will give you the rules - the key thing is that unless you are FSA registered you must not give advice or recommend a particular product - so do not put any particular product as recommended, or in a different colour, or larger font or boxed out than any other.

If you are new to affiliate marketing then financial services is a brave place to start - for SEO it is incredibly difficult to get good rankings and for PPC you need deep pockets to get started - but good luck with it anyway.

[IntervisionMedia]

Hi Kbudden,

Thanks for your response - I'll take another look through and make notes on any useful guidelines that I can find from the posts here.

I was also thinking of seeking legal advice on the subject, just to make sure im not breaking any regulations, what with all the legal jargon - but was hoping to make as much sense of it as I can first.

I realise that finance is a difficult industry to get started in, but i'll be following those later this year with some other projects too. I have a number of years experience as a web developer and search engine optimiser, both with a particular focus on actually converting visitors - so although im a newbie to affiliate marketing in general, I hope that im bringing a certain amount of expertise to the arena already, and just need to build on that for affiliate marketing specifically. Thanks for your thoughts and luck, as I know i'll need it

Matthew.

[accelerator]

There's a little bit of info within the OMG site too.

The rules are basically saying that you can't give advice about which products to go for unless you are approved. When it comes to websites, I would say you can provide resource info about a generic product, e.g. you could explain what an offset mortgage is, but you can't give any financial advice in the sense of "this one would suit you best".

Personally, I add a disclaimer explaining that the website is only intended to give background information about a given type of financial product, and that no specific products are being recommended, and that nothing on the website should be taken as financial advice.

Rgds

Accelerator

[essdeekay]

In addition to which it might also be prudent to put something along the lines of "this website provides information. if you are unsure whether any particular financial product is suitable for you then please take independent financial advice (insert link to IFA Promotion here)" or something along those lines.

You certainly don't want to fall foul of the FSA!

Simon

[IntervisionMedia]

Thanks guy's, great advice - much appreciated.

[IntervisionMedia]

Just a thought - any idea where we stand in terms of promoting merchants that aren't FSA regulated?

Same precautions as usual, or does that add to the problem somehow?

[essdeekay]

Hmmm, damn good question!

I only ever recommend regulated products to my clients - life's too short to mess around with the "other stuff".

I am always wary of products where the following words are used:-

Guaranteed
Fantastic
Anything mentioning a return over 7% per annum
Tax-haven
Opportunity

Just remember, someone might come knocking on your door one day when that "fantastic investment opportunity" in "an offshore tax-haven" disappears!

HTH

Simon

[IntervisionMedia]

Good point eesdeekay, I think I will just check the programme editorials for anything that looks a bit dodgy, and decide on whether to promote them or not based upon that - I might end up not having many merchants to promote, but it sounds like the safest option.

[bornoptimist]

hi, you should also consider wether you want to seperate out the products i.e loans / mortgages / credit cards as each as their own set of regulations - as a merchant regulated by the FSA and the OFT (with our own internal compliance officer ) if you need some specific advice let me know and if possible i'll point you in the right direction

[RailyPhill]

Hi Guy's

The FSA and specifically their financial promotions guidance notes aren't that straight forward. That said here's the spot you want to look at http://www.fsa.gov.uk/Pages/Doing/Re...mo/index.shtml

You should really keep things clear fair and not misleading, ensure if your not regulated its clear who your merchant is and indeed their status.

I'm afraid to say its getting difficult out there, unless your prepared to throw some resources at it at or choose a good partner

[sarah broome]

Hi IntervisionMedia,

We are a network that specialises in Financial products especially loans, credit cards, bank accounts, insurance & mortgages.
We are FSA registered and so you may be interested in some of our campaigns.

Here is a link to our website www.smart-quotes.com this should give you a good idea of what we have to offer but if you want any further information please feel free to email me.

Kind Regards,

Sarah.

[drivetowin]

Daniel

I think we got your message - you don't have to keep posting the same thing on every thread you can find.

Frankly, it makes you look even more unprofessional than you are accusing TD of being.

[simonb]

All affiliates who sign up to Leadbay get a link in their control panel to a document snappily titled 'GUIDANCE ON REGULATED ACTIVITIES AND FINANCIAL PROMOTIONS IN THE UK'. This is aimed to help our affiliates around the compliance issues when generating mortgage leads for us.

Signing up is free and can be done at www.leadbayaffiliate.co.uk