When does a lead become intermediation? Four views on a judgment
Responses to the ruling reveal differing interpretations of the causal link required between lead-generation activities and a financial-product transaction.
#referralarrangements
FSCA sharpens focus on online harm and unauthorised advice
The regulator highlights how digital scams, referral models, and trading signals can pull consumers into unlicensed services.
Referral fees and FAIS: when a lead becomes intermediation
The High Court’s decision shows how commission-style lead arrangements can be characterised as FAIS intermediary services, with enforceability consequences.
