The Financial Conduct Authority (FCA) has required firms to amend or remove 8,582 promotions during 2022 - 14 times more than 2021, according to its latest report.
The regulator's financial promotions data 2022, published today (3 February), points to a significant increase in its intervention activity in response to poor financial promotions compliance in authorised firms and activity involving unauthorised firms and individuals. In relation to authorised firms, the FCA's intervention last year saw an increase of 1398%, compared to 573 promotions amended or withdrawn in 2021. When it comes to unauthorised firms and individuals, the FCA issued 1,882 alerts in 2022, an increase of 34% from 1,410 in 2021, the data showed. This is despite the regul...
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