FT investigates advertorial complaints at business magazines division

"Apparently the practice includes writing articles on subjects suggested by advertisers, allowing the advertisers to vet copy, profiling those said advertisers in issues or sections of which they are the key sponsors or advertisers."

At the time of publication the NUJ was unable to provide a copy of the letter to Brand Republic.

An FT spokeswoman told Brand Republic this morning that the company is investigating but believes the allegations are based on "unsubstantiated complaints".

The publisher, in a statement, said: "The FT takes the allegations very seriously but has not been provided with any evidence by those making the accusations. We can only conclude at this stage that they are based on unsubstantiated complaints."

The letter was received eight weeks ago. Caspar de Bono, managing director of business-to-business publishing at the Financial Times, ordered an investigation which is being conducted by Janet Walford, the editor of Money Management.

A spokesman for the FT said that no specific cases relating to individual advertisers had come to light in the letter or in the investigation.

"Over the past two weeks the team have been trying to work with the people who made the accusations but no evidence has been forthcoming," he said.

The titles published by the FT Business division include Investors Chronicle, Financial Adviser, The Banker and Money Management.