Page 49 - 期货和衍生品行业监管动态（2022年11月）

期货和衍生品行业监管动态

Features include sending frequent notifications with the latest market news and
providing consumers with in-app points, badges and celebratory messages for making

trades. The FCA has found that consumers using apps with these kind of features

were more likely to invest in products beyond their risk appetite.

Alongside its warning to app-operators, the FCA has published research that

raises concerns that customers using such trading apps are exposed to high-risk

investments, and that some appear to exhibit behaviours similar to problem-gambling.

Whilst gamification can be used to engage consumers positively, the FCA found

it being used in ways that may mislead consumers or lead to poor outcomes and

problem behaviours.

Sarah Pritchard, Executive Director of Markets at the FCA, said:

'Some product design features could be contributing to problematic, even
gambling-like, investor behaviour. We expect all firms that offer stock trading to

consumers to review and, where appropriate, make improvements to their products

based on these findings. They should also ensure they are providing support to their

customers, particularly those in vulnerable circumstances or those showing signs of

problem gambling behaviour.'

The FCA intends to do further research into trading app use and design features,

in particular to understand some wider financial vulnerabilities for users of these apps,

such as whether they borrow to invest and the scale of any losses. The FCA’s 2022

Financial Lives Survey found 9% of all adults with investments have borrowed to

invest and 49% of these would not have been able to make the investment without

doing so.

To ensure customers are being treated fairly and ahead of the new Consumer

Duty coming into force next year, all firms should be reviewing their products now to
ensure they are fit for purpose.

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