Google has announced in June 2021 that it will be updating its Google Ads Financial Products and Services policy in August 2021 to introduce new verification requirements for Financial Services advertisers targeting the UK. It will publish the policy update on August 30 2021 and enforcement will take effect seven days later.
Advertisers that have not successfully completed the updated verification process by the time enforcement begins will no longer be allowed to show financial services advertising of any kind in the UK, including showing advertisements 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 FCA or qualify for one of the exemptions described on the UK Financial Services verification page. This requirement covers regulated and unregulated UK financial services.
Advertisers can initiate verification, or Google may require an advertiser to complete the verification process. Advertisers that fail to complete step 2 of the verification within the time given will have their accounts paused.
Advertisements related to the following categories will not be considered to be financial services for the purposes of this policy, but are still required to comply with all other Google Ads policies:
Violations of this policy will not lead to immediate account suspension without prior warning. A warning will be issued at least seven days prior to any suspension of a user’s account.
Firms are asked to review the policy update to determine whether or not any of their advertising falls within scope of the policy, and if so, to complete UK Financial Services verification or remove those advertisements before September 6 2021.
If you’d like to know more about how we can help you with your financial promotions arrangements, or any other regulatory compliance issues, our expert team is here to help.
Contact us today on 0207 436 0630 – or email info@thistleinitiatives.co.uk.