The Financial Markets Authority (FMA) has published guidance on fair dealing in advertising and communications for licensed crowdfunding services, peer-to-peer lenders and the companies that offer financial products on these platforms.
The guidance follows a review by the FMA of how service providers and the companies that use them advertise their businesses. The review examined whether promotional material met our ‘fair dealing’ expectations.
The review was not in response to complaints, but reflects the FMA’s view that this sector is a newly licensed population and it is prudent for the FMA to examine how these services are marketed.
The FMA guidance applies to licensed crowdfunding and peer-to-peer lending platforms, and companies that offer financial products through these platforms. It sets out the FMA's expectations for marketing and promoting these offers and platforms to consumers.