Please find the full & original FCA publication here.
This page analyses the latest data covering 1 October 2022 to 31 December 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- number of closed cases where promotions have been amended and withdrawn,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 Q4, we reviewed 870 promotions.
- Our intervention resulted in 3,973 amends/withdrawals.
- Retail lending (with 53%), retail investments and general insurance & protection are the sectors with the highest amend/withdraw outcomes, amounting to just over 80% of our interventions with authorised firms.
- Some of the most common breaches involved credit brokers, life insurance providers and various investment providers.
- In 2022 Q4, we issued 531 alerts about unauthorised firms and individuals, with 10% of these related to clone scams.
- We also supported the Early and High Growth Oversight Department by providing a webinar training session to around 500 attendees, to remind firms of our financial promotion’s rules.
Authorised firms – Number of promotions reviewed
In 2022 Q4 we reviewed 870 financial promotions from multiple sources.
- 65% from our proactive monitoring
- 13% from consumers
- 9% from different areas of the FCA
- 8% from UK Regulators
- 5% from firms
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To continue reading, please find the full & original FCA publication here.
