FCA opened 521 enquires into unauthorised firms in 12 months

Led to 16 full investigations

Tom Ellis
clock • 2 min read

The Financial Conduct Authority (FCA) opened 521 enquiries into unauthorised firms in the 12 months to the end of last November, resulting in 16 full investigations into suspected firms.

In its eigth data bulletin, the regulator said it had received 11,650 enquries from consumers between 1 December 2015 and 30 November 2016 relating to scams. This represents 13% of all consumer contact with the regulator. A total of 8,277 of those reports from consumers related to potential unauthorised activity in the period, which led to the subsequent 521 enquiries and 16 investigations. The regulator said it resolved 156 matters through correspondence with firms. Where cases led to court action, however, the FCA revealed plans to return £1.9m worth of funds to out-of-pocket invest...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA data information request: Four focus areas for advisers

FCA data information request: Four focus areas for advisers

‘Data is not just a compliance tool it’s a strategic asset’

Chris Davies
clock 07 July 2025 • 5 min read
FCA to extend bullying and harassment rules to non-banks

FCA to extend bullying and harassment rules to non-banks

Extension will apply to 37,000 firms

Cristian Angeloni
clock 02 July 2025 • 2 min read
Regulatory necessity: Why data is no longer a 'nice to have'

Regulatory necessity: Why data is no longer a 'nice to have'

Client-led, data-driven

Paul Bruns
clock 01 July 2025 • 5 min read