Source · Select Committees · Treasury Committee
Recommendation 18
18
Paragraph: 97
It is not appropriate that online companies should profit both from paid-for advertising for financial...
Recommendation
It is not appropriate that online companies should profit both from paid-for advertising for financial products and from warnings issued on their platforms by the Financial Conduct Authority (FCA) about those advertisements. We urge all online companies to work constructively with the FCA and to follow Google’s example by giving advertisement credits to the FCA for the future. We also expect them to refund money that has been spent in the past by the FCA.
Paragraph Reference:
97
Government Response
Not Addressed
HM Government
Not Addressed
We strongly agree with the view expressed in the report that it is not appropriate that online companies should profit both from paid for advertising for financial services and also from warnings we place on the same platforms about those adverts. Whilst we have received an offer of advertising credits for future advertising from Google, we understand that there will be no refund of past spending. Also, we would like to make the Committee aware that we have struggled to get engagement on this issue with some other major platforms.