One in four adverts on financial firms’ websites is misleading, the FSA has found.
A significant minority of websites fail to present information in a fair and clear way, according to a review of 77 firm’s websites carried out by the regulator.
The FSA has published examples of good and bad practice on its website, though it has stopped short of naming and shaming the firms involved.
Instead it has contacted them individually asking them to make changes to their websites.
The FSA’s director of retail policy and themes, Dan Waters, said: “For many people, the internet is the channel of choice for shopping around for financial products.
“However, it can expose consumers to high risk as they are able to make instant purchases without advice.
“This is why it is so important that these firms’ websites are fair, clear and not misleading.”
The FSA will carry out a further review in March 2008, and will take action against firms that have failed to bring their online promotions inline with regulations.”
