Financial products and services

Helpful information on the advertising rules for financial products and services, and examples of previous Advertising Standards Authority rulings in this area.

Financial advertising is subject to numerous laws and regulations, some of which fall outside of our remit. Ads for products by FCA-regulated (Financial Conduct Authority) businesses such as banks, building societies and stockbrokers, and any claims to do with the specific characteristics of a financial product are looked at by the FCA. We regulate non-technical aspects of ads for financial products and services such as matters relating to offence and social responsibility.

This said it is worth noting certain ads may fall under our remit if they’re delivered as part of a cross-media campaign. We are responsible for all broadcast ads for financial products and services and will liaise with the FCA on any technical aspects of these kinds of ads. We also cover ads about tangible investments, property, government investment services and investment-related software.

Although the issue of remit can seem quite complicated, the advertising rules for financial products and services themselves are quite simple. They are all about making ads for financial products and services as clear and as transparent as possible and not taking advantage of consumers’ inexperience or credulity.

For example, ads for financial products and services should always state the nature of the contract being offered and any limitations, expense, penalty or terms of withdrawal. The only time it is acceptable for this information to be omitted from an ad is if the ad is very short, in which case free material explaining the terms and conditions must be made readily available to consumers before a binding contract is entered into.

Other rules for ads for financial products and services include making sure offers are communicated in a way that allows them to be easily understood by the target audience. The rules also require that the basis used to calculate any rates, forecasts or projections are made clear in the ad. Ads should also make clear the value of investments is variable and, unless guaranteed, can go down as well as up. If the value of the investment is guaranteed, the ad must explain this guarantee.

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Latest rulings

Forisgfs UK Ltd t/a Crypto.com
- Upheld
- App (paid ad)
- 05 January 2022
Two in-app ads for Crypto.com were banned for not being sufficiently clear that the value of investments in cryptocurrency was variable and for irresponsibly encouraging investing in cryptocurrency through using a credit card.
Arsenal Football Club plc
- Upheld
- Internet (website content), Social media (own site)
- 22 December 2021
A Facebook post and website post by Arsenal Football Club promoting fan tokens were banned for taking advantage of consumers’ inexperience in cryptoassets. The posts also misled consumers by not making it clear that fan tokens were a cryptoasset that had to be bought using another cryptocurrency.
Skrill Ltd
- Upheld
- Social media (paid ad)
- 22 December 2021
A paid-for Reddit ad for an online wallet and money transfer service was banned for taking advantage of consumers’ lack of experience by implying that cryptocurrency investment was risk free.
CoinBurp Ltd
- Upheld
- Social media (own site)
- 15 December 2021
A Twitter bio for a cryptocurrency trading platform was banned for irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment.

View all rulings

Financial products and services

Helpful information on the advertising rules for financial products and services, and examples of previous Advertising Standards Authority rulings in this area.

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Relevant codes

14 Financial products

14 Financial products, services and investments