FCA chief pushes for legislative change on fraudulent ads

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Law360, London (August 5, 2021, 10:42 a.m. BST) – The Financial Conduct Authority has urged lawmakers to amend the upcoming online security bill to include safeguards against financial fraud and economic damage, adding to a growing number voices urging Parliament to strengthen legislation.

FCA chief executive Nikhil Rathi said in an interview on Wednesday that the regulator was urging parliament to amend the bill – a bill currently under consideration to protect consumers from internet fraud – to include protection against financial scams conducted online.

“We very much want investment fraud, economic damage, to be included in this bill, especially as it relates to online advertising,” Rathi …

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