Not upheld: Other regulated complaint complaint against Freetrade Limited

Decision detail

Summary

Mr B complained about a marketing email from Freetrade titled 'Drill, baby, drill' regarding Trump's energy policies and their impact on UK investors in oil and electric vehicle stocks. He considered the email unethical, irresponsible, and politically charged, and believed it breached FCA Principles 6 and 7. Freetrade responded that the email was intended as educational content about market developments. The ombudsman found the email was balanced, factual, and informative, providing useful information about potential market implications without promoting environmental harm or taking a political stance, and therefore complied with applicable FCA Principles. The complaint was not upheld.

The Ombudsman's reasoning

The ombudsman examined whether the email was unfair, unclear, or misleading by reading the full email content, not just the subject line. While acknowledging the subject line 'Drill, baby, drill' could seem provocative in isolation, the ombudsman found it was a direct quote from President Trump used to frame a discussion about energy policies and market implications. The email provided balanced, factual information with cited sources and explained potential investment portfolio effects without taking a political stance or promoting harmful activity. The ombudsman concluded the communication complied with FCA Principles 6 and 7 by being clear, fair, not misleading, and treating customers fairly.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website