Google must do more to stop illegal online marketing of money-making schemes tha...
LONDON - Google must do more to stop illegal online marketing of money-making schemes that can lead to small investors losing their savings, Britain’s regulator said on Tuesday after it banned mass-marketing of mini-bonds.
The average investment for mini-bonds is 25,000 pounds, but they are not regulated by Britain’s Financial Conduct Authority . Mini-bonds have been heavily promoted online, offering high returns, and the watchdog has powers over marketing material. “We have got to reach a point where we understand that where a test is passed, that we can demonstrate a site is harmful, that they are prepared to take it down,” Bailey said.
The FCA, which was criticized by London Capital & Finance bondholders for being too slow to intervene in the investment firm, said it was reviewing 200 other promotions that may not have complied with its rules.
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