Changing the law.
The business of ‘Ledger and Simmons’ has bought to the fore, how pension and investment scammers use the power of the internet to reach into every crevice of our lives.
They are aided and abeted in a number of ways; by innocent people duped into helping them circulate details within their social peer group, by social media companies carrying their ads or their accounts, or by online marketers doing their media handling for them.
A change in the law would be simple.
It would require anyone engaged by a financial services company or a company engaged in the provision of financial services (introducers etc) to carry out checks to ensure that the company is not violating legislation intended to reduce the impact of financial fraud.
It would require online marketers to have the responsibility of ensuring that any ads or editorial, or social media activity that they carry out conforms with current guidance.
It would require Companies House to ensure that any company set up to carry out work in the Financial Services sector is properly authenticated.
It would require a company to ensure that ads and accounts comply with legislation surrounding the promotion of financial services.
It would make the requirement for introducers to be able to demonstrate where they are directing clients.