U.K. financial services companies not regulated by the country's Financial Conduct Authority (FCA) will soon be barred from advertising on Google.
- Starting Aug. 30, Google will require advertisers to demonstrate that they are authorized by the FCA or qualify for one of the limited exemptions.
- The change in policy, which will be enforced from Sept. 6, is designed to tackle fraud, the company said in a blog post Wednesday.
- The requirement covers financial services providers even if their products are not regulated by the FCA.
- Crypto service providers have until March 31 next year to register with the FCA. Just six have successfully completed the process so far.
- It was reported this week that 64 companies have abandoned their bids for FCA registration, including 13 since the start of June.
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