FCA warns football clubs over unauthorised firm sponsorships
The FCA warned football clubs that sponsorship deals with unauthorised crypto and trading firms may breach UK financial services laws and put fans at risk.
The FCA is escalating action on unauthorised firms using sports sponsorship to reach UK consumers. The warning extends financial promotion enforcement focus to non-financial intermediaries facilitating market access.
Highlights perimeter enforcement and risks for any firm associated with unauthorised crypto or trading platforms.
Action Required
Review sponsorship and marketing partnerships for FCA authorisation status of counterparty financial firms and document due diligence.
Signals expanding FCA enforcement perimeter targeting illegal financial promotions via sponsorship channels.
Implement KYC checks on financial-sector sponsors and marketing partners; verify FCA authorisation before entering brand or sponsorship agreements with crypto or trading firms.
“The FCA warned football clubs not to sign sponsorship deals with unauthorised financial firms, including crypto businesses and trading platforms, that may breach UK laws by providing services without authorisation.”