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answer text |
<p>The UK’s financial promotions regime, underpinned by Section 21 and Section 238
of the Financial Services and Markets Act 2000 (FSMA), seeks to ensure that consumers
are provided with clear and accurate information that enables them to make appropriate
decisions for their individual circumstances. Under this regime, the FCA has imposed
rules on the promotion of unregulated collective investment schemes, including that
such schemes cannot be promoted to ordinary members of the public.</p><p> </p><p>Enforcement
relating to the promotion of unregulated collective investment schemes is generally
a matter for the FCA, which is operationally independent from the Government. These
questions have therefore been passed to the FCA who will respond directly to the honourable
Member by letter. A copy of the letter will be placed in the Library of the House.</p>
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