Google strengthens rules for investment ads in the UK

Google is introducing further measures to help fight financial fraud in the UK.

The Google Ads Financial Products and Services policy will be updated from 30th August to introduce new certification requirements for financial services advertisers targeting the UK.

Financial services advertisers will be required to demonstrate that they are authorised by the UK Financial Conduct Authority (FCA) or qualify for one of the limited exemptions described in the UK Financial Services verification page.

The policy will be updated on August 30, 2021, and enforcement will begin seven days later, on September 6, 2021.

Advertisers must successfully complete the updated verification process by the time enforcement begins in order to show financial services ads to UK users. This will include showing ads to UK users who appear to be seeking financial services.

As part of the verification process, advertisers must demonstrate that they are authorised by the UK Financial Conduct Authority or qualify for one of the limited exemptions described in the UK Financial Services verification page.

This requirement covers financial services products both regulated by and not regulated by the UK Financial Conduct Authority.

“This new policy update is only the latest step in our commitment to tackling online financial crime in the UK. Our teams continue to use a mixture of machine learning and human review to analyse user experiences and take action,” Google says.

For the last 18 months, Google has worked with the FCA to receive notifications when additions are made to the FCA warning list. Based on feedback from the FCA, Google has also updated policies, such as its unreliable claims policy. This update restricted the rates of return a firm can advertise and banned the use of terms that make unrealistic promises of large financial return with minimal risk, effort or investment.