Google will be publishing a policy update on 30th August 2021 and 7 days later enforcement will take place.
Google Ads will update the Google Ads Financial Products and Services policy to introduce new verification requirements for Financial Services advertisers targeting the UK.
Advertisers will need to update the verification process before the enforcement date to be able to continue to show financial services adverts of any kind in the UK, this includes showing adverts to UK users that appear to be looking for financial services.
The updated policy will require advertisers to be verified by Google.
Advertisers must demonstrate that they are authorized by the UK Financial Conduct Authority (FCA) or qualify for one of the exemptions on the UK Financial Services verification page which covers financial services regulated by and not regulated by the UK FCA.
Advertisers that fail to complete step 2 of the verification within the time frame given with have their accounts paused.
The following adverts will still be required to comply with all other Google Ads policies but will not be considered financial services for the purpose of this policy.
Violations of this policy the advertiser will be issued with a warning at least 7 days prior to any suspension.
Google has asked advertisers to review the policy update to determine whether any financial ads fall within scope of the policy and if they do, complete the UK Financial Services verification or remove adverts before 6th September 2021.
We have to say it is about time too! For too long, we have seen advertisements from unregulated advisers or services that purport to be legitimate yet investors have no recourse or compensation protection.