Financial services advertisers in the UK must meet Google verification requirements by August 2021. Google has introduced advertiser identity verification. This requires the advertiser to provide personal, business and regulatory information, including details of their financial license to provide regulated financial services, unless they qualify for an exemption.
Google Advertiser Identity Verification
In the UK, this follows from February 2021 when Google wrote to the Financial Authority, outlining its plan to tackle scam ads for financial services. Google confirmed that it planned on implementing a procedure to verify the identity of financial services advertisers, a process called the Advertiser Identity Verification. It stated that this process would require such advertisers to submit personal legal identification, business incorporation documents or other information to prove the identity of such advertisers.
Deadline for implementing Google’s verification requirements
From August 2021, if your company wishes to show financial services adverts of any kind in the UK, including adverts to UK users who wish to seek financial services, you, the advertiser, must be verified by Google. As part of the verification procedure, you will be required to demonstrate that you are authorized and regulated with the UK’s financial regulator – the FCA.
Google’s Verification Requirements for FCA Firms
To be eligible for the UK FCA verification, financial services advertisers promoting regulated financial services activities must be authorized by the UK’s financial services regulator, namely, the Financial Conduct Authority (FCA) and complete Google’s identity verification program.