COMPANIES which offer consumer credit such as payday lenders, debt management firms and brokers must do more to make sure their advertising does not mislead customers, the City regulator said. The Financial Conduct Authority (FCA) said that since April, when it took over supervision of the consumer credit market, it has reviewed more than 1,500 financial promotions for consumer credit products and it has opened 227 cases into promotions which are "non-compliant". A quarter of cases opened relate to advertisements for high-cost short-term credit, with many not prominently display a risk warning or representative APR (annual percentage rate), the FCA said. Some 80 per cent of consumer credit cases to date relate to digital media, such as websites, emails and texts. Rules state all promotions must be clear, fair and not misleading.