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Advisers warned on 'recycled' leads

"There are three things we can do: enforce the rules ourselves, track and trace these bad adverts and shut them down, and to certify each and every lead". 

Ms Churcher added: "The effects of rogue lead generation are far-reaching and we need to work together to provide even a minimum standard of regulation that we can all agree on, adhere to, and work towards."

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Financial Adviser raised the issue of Covid-19 related leads back in April, when such adverts started to proliferate on social media using 'scaremongering tactics'.

chloe.cheung@ft.com and simoney.kyriakou@ft.com