7.4 The small print and regulatory requirements Flashcards Preview

DipsFS Unit 4 > 7.4 The small print and regulatory requirements > Flashcards

Flashcards in 7.4 The small print and regulatory requirements Deck (9)
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1
Q

Small print definition

A

Text that appears at the foot of the document or screen in a very small font size to describe terms and condition

2
Q

Why is small print used?

A

It is not in the interest of providers to emphasise terms that a customer might find unattractive

3
Q

Questions you can consider to help spot and avoid misleading financial adverts:

A
  • Do I have to pay a fee?
  • What are interest rates and when will interest be paid?
  • How long do i have to commit for?
4
Q

What does the FCA require that promotions must do?

A
  • Not hide any important information

- Make clear any risks involved

5
Q

What does the Advertising Standards Authority require?

A

Advertisements to be legal, decent, honest and truthful

6
Q

Where does the ASA require risk warnings in financial advertisements to be set out?

A

Early in the document in a large type size

7
Q

What does the Plain English Campaign do?

A

Gives a ‘Crystal Mark’ to organisations that use simple and plan English in their customer literature

8
Q

Why is it in the interest of providers to help people grasp benefits and risks of products?

A
  • Bad reputation if they confuse people deliberately
  • Help avoid complaints about a lack of transparency
  • Avoid allegations of mis-selling
9
Q

Did PPI cover the self–employed?

A

No

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