Microsoft will pay nearly $2 billion for a 4% share in the London Stock Exchange Group (LSEG).
LSEG, as part of the 10-year deal announced Monday, will migrate to Microsoft back-office products and implement Azure cloud service across the business. It also agreed to spend a minimum of $2.8 billion on cloud computing products during the next 10 years.
Perhaps not directly tied to the announcement, but still in the financial sector, Microsoft took steps to prevent deceitful financial promotions and scams on its advertising platform, specifically in the UK.
The company also announced in a separate blog post that early next year it will only allow advertisers authorized by the UK Financial Conduct Authority (FCA) to present regulated financial promotions in the UK.
Advertisers using Microsoft’s ad platform now will be required to provide proof of authorization by the UK FCA to present Financial Promotion Ads or specify if they are either a non-financial services advertiser who may target consumers seeking financial services, such as ecommerce platforms, or government entities such as authorities or regulators operating under the “.gov.uk” domain.
Microsoft said that the requirements are in addition to the Advertiser Identity Verification requirements, which are part of its safety measures to protect consumers, advertisers, and publishers.
Advertisers must comply with the verification process or risk ads being blocked from serving in the UK. The account will continue to perform as before with respect to non-Financial Services Ads and in markets outside of the UK, but not in the UK, Microsoft said.
Microsoft also posted a detailed verification process. It starts with initiating the UK Financial services verification through the Verifications page within Preferences. Advertisers will need to provide business details like name, address and email address. Other information includes the 6-or 7-digit UK FCA registration number (FRN), if applicable; and domain details used to showcase financial services-related advertising. This would include domains registered with the UK FCA and domains and websites used for advertising on Microsoft Advertising that aren't in the UK FCA registry.
The post also provides details on other steps the advertisers must take to clear the verification process.
Last week, while I was on vacation, Microsoft announced videos ads and other product updates for the month. Video Ads on the Microsoft Audience Network are now generally available in the United States, Canada, United Kingdom, France, Germany, Australia, and New Zealand.
And, in other news, Microsoft bought 4% of the London Stock Exchange.