The Financial Publishers & Media Alliance filed comments with the Federal Trade Association on May 10th, 2022 regarding an Advanced Notice of Proposed Rulemaking (“ANPR”) regarding earnings claims.
We at the FPMA support the FTC’s interest in helping business and helping consumers.
The FPMA’s comments express our concerns that, “A bright-line, cookie-cutter, ‘one size fits all,’ Earnings Claim Rule that overlooks important differences between business types will stifle First Amendment protected speech, deter financial publishers from disseminating truthful and accurate information about what they do, and ultimately deprive consumers of valuable information that helps them to navigate financial markets.”
The comments further state, “The FPMA’s fear is that an Earnings Claim Rule would treat financial publishers as no different than other disparate types of businesses, would restrictfinancial publishers from fairly sharing that they have helped and expect to continue helping people make money in the financial markets, and would thus chill First Amendment protectedspeech. This would not serve the interests of consumers. FPMA welcomes the opportunity to
discuss these issues with the FTC.”