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25 July 2022

Please find the full official FCA publication here.

This page analyses the latest data, from 01 April 2022 to 30 June 2022, from our action against authorised firms breaching financial promotion rules and referrals and investigations into unregulated activity.

The data we gather means we can monitor developments in the market, get insights into sectors we have concerns about and act to prevent consumers from harm.

What’s included in the data

  • key messages for regulated and unregulated financial promotion activity
  • number of financial promotions reviewed during this period
  • number of closed cases where promotions have been amended and withdrawn including split across sectors, excluding cases which are still ongoing
  • number of unauthorised reports received, and alerts issued
  • how we act

Key messages

  • In 2022 Q2, we reviewed 451 promotions
  • Our engagement resulted in 374 amends/withdrawals
  • Retail investments and retail lending are the sectors with the highest amend/withdraw outcomes, amounting to 83% of our interventions with authorised firms
  • Some of the most common breaches involved credit brokers, mortgage intermediaries and investment platforms
  • In 2022 Q2, we issued 286 alerts about unauthorised firms and individuals, with 22% of these related to clone scams
  • We issued a Dear CEO letter warning almost 28,000 lenders and brokers to stop using misleading terms in their advertising or face regulatory action. We have been undertaking proactive monitoring, which will continue into 2022 Q3 and if firms fail to comply, we will take action which could include banning adverts or requiring firms to change, amend or withdraw them

Please find the full official FCA publication here.

By David Petty

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