This episode of the "Fair, Clear, and Not Misleading" podcast features a discussion between Gareth and Wayne, co-founders of Engelbert, about marketing and promotion of financial products in the UK, with a focus on the crypto industry.
The episode covers several key topics, including a debrief on recent conferences, such as the inaugural Engelbert's FinProm Summit, and industry feedback on the new financial promotion regime. This feedback encompasses various aspects like risk warnings, balancing risks and benefits, and social media challenges.
This week the duo delve into the technical challenges of implementing risk warnings across different platforms and devices, as well as the delicate balance between educational content and promotional material in the crypto space. The co-founders also compare the UK's financial promotion regime with the European MICA regulation, highlighting the differences and implications for the industry.
Finally (with us still?), the episode explores the difficulties in creating standardised documentation that is both compliant with regulations and accessible to retail consumers. Social media compliance is another significant topic, with this podcast addressing challenges such as geo-blocking and the need to maintain separate UK-specific channels.
Overall, the episode sheds light on the complexities of implementing new regulations in the crypto industry and the ongoing efforts to strike a balance between regulatory compliance and effective communication to consumers.