The financial services industry is subject to strict regulations, so marketing compliance for financial services is a big deal, as Hanzo notes in this latest post!
The post (Why Marketing Compliance for Financial Services Is A Big Deal, written by Sarena Regazzoni and available here) discusses how, according to a comprehensive market analysis conducted by Statista, digital advertising expenditures in the financial services sector in the United States surged to a staggering $21 billion in 2020. This impressive figure is expected to experience further growth, reaching an estimated $30.75 billion by the end of 2023.
Digital advertising enables financial services companies to maintain a consistent online presence, enhancing brand visibility, trust, and credibility. Additionally, digital marketing provides a valuable platform for sharing educational content that simplifies complex financial topics, positioning the company as a reliable source of information.
However, the financial services industry is subject to strict regulations to ensure fairness, protect consumers, and maintain financial stability. Organizations must comply with various regulations from bodies including the Consumer Financial Protection Bureau (CFPB), the U.S. Securities and Exchange Commission (SEC), and the Financial Industry Regulatory Authority (FINRA) among others, related to consumer protection, suitability, and investment. Failure to comply with regulations can have serious consequences, including regulatory penalties and damage to a company’s reputation.
So, why is marketing compliance for financial services such a big deal? And how can financial services companies demonstrate marketing compliance? Find out here! It’s just one more click! You cannot deny your need to comply! 😉
So, what do you think? Are you concerned about compliance with marketing regulations? Please share any comments you might have or if you’d like to know more about a particular topic.
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