Historically, marketing and compliance haven’t always been natural companions.
But in today’s world, as marketing teams are becoming increasingly responsible for managing digital channels, Anna Carless from Smarsh UK argues that a more harmonious union between the two is likely.
The changing regulatory landscape is a major catalyst for this change in behaviours. The Financial Conduct Authority (FCA) has turned its attention to content management governance following its initial guidance, FG15/4 Social Media and Customer Communications, suggesting the compliance conundrum will remain a real challenge for financial services firms.
Businesses are also struggling to keep pace with advances in digital and social media and the proliferation in communication and content channels is often impacted by marketing efforts. The FCA is also now monitoring organisations and their digital communications more closely than ever.
Larger financial firms have already embraced the new marketing and compliance relationship with the introduction of Financial Promotions Managers. A new role residing in the compliance and marketing department with dual reporting responsibilities. This may become commonplace across firms of all sizes.
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