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United Kingdom
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Key definition
Financial promotion definition

What does Financial promotion mean? A financial promotion is any communication made in the course of business that invites or persuades a person to engage in investment activity, such as buying or selling investments, opening investment accounts or subscribing to investment services. In the UK, the term and its restriction are set by the financial services and markets act 2000 (FSMA), especially section 21, and detailed in the Financial Promotion Order 2005 (FPO) and FCA rules. A person who is not authorised by the FCA must not communicate a financial promotion unless an authorised firm has approved it or an FPO exemption applies....

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UK financial promotion restriction: FPO Part IV exemptions for all controlled activities, including claims management—communications, recipients and persons (Arts 12–20C)

Practice notes
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Scope of this Practice Note

This Practice Note outlines the carve-outs from the Financial promotion restriction that apply across all controlled activities. For detail and background on the restriction, see Practice Note: The financial promotion regime—essentials. The exemptions referenced in this Practice Note are contained and detailed in Part IV of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, SI 2005/1529 (FPO), as amended from time to time, including, for example, by the Financial Services and Markets Act 2000 (Claims Management Activity) Order 2018, SI 2018/1253, and the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019, SI 2019/632). The exemptions concern:

  • specific kinds of communication
  • communications aimed at particular recipients, and
  • communications made by particular persons

The FPO sets out a list of over 70 exemptions that are available to those who are not PRA/FCA authorised firms. Several of these are explored further in greater depth and detail in relevant Practice Notes: Financial promotions order: Exemptions for deposits and insurance, Financial Promotions Order: Exemptions for financial services practice, Financial Promotion Order: Exemptions for corporate practice, and Application of the UK financial promotion regime to cryptoassets...

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Web page updated on 22/05/2026

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