FSA is consulting on guidance on financial promotions, aimed primarily at fund managers. The guidance stresses how wide the definition of "financial promotion" is and how important it is to comply with FSA's Conduct of Business Rules when issuing or approving promotions. It warns of the "risk sandwich" where promotions describe risks of a product between sections highlighting benefits and explains the purpose and importance of FSA's rules on past performance indicators. FSA wants comments by 25 February. (Source: Guidance Consultation: Financial Promotions)