Which of the following statements is true regarding the communication of financial promotions?

The statement that financial promotions must be authorized or approved by someone who is authorized is accurate due to regulatory requirements aimed at protecting consumers and ensuring that the information provided is accurate and not misleading. Financial promotions involve advertising or marketing communications that relate to financial products or services, and they must comply with specific standards set forth by regulatory bodies, like the Financial Conduct Authority (FCA) in the UK.

By requiring prior authorization or approval, regulators ensure that financial promotions are clear, fair, and not misleading, which helps prevent potential harm to consumers from false or unclear claims. This process also serves to enhance the integrity of the financial markets and maintain consumer trust.

In contrast, the other options imply either an absence of regulation or suggest that firms can act without the necessary compliance and accountability, which is not in line with the standards set by regulators.