The FCA gives a summary of data collected between 1 July 2024 and 30 September 2024 from its actions against firms breaching financial promotion rules, and referrals and investigations into unregulated activity.
This data provides an overview of how the FCA is working to improve standards across the market so that consumers are provided with clear and fair financial promotions which are not misleading.
##Key messages include:
Our interventions in 2024 Q3 resulted in 10,593 promotions being amended or withdrawn by authorised firms. This includes one firm who withdrew 6,792 promotions, many of which were historical promotions withdrawn as a precaution.
We issued 552 alerts on unauthorised firms and individuals, 12% of these were clone scams.
The cryptoasset financial promotions regime came into force on 8 October 2023 and has now been live for a year. Over the last year we have issued 1,702 consumer alerts about illegal crypto promotions and our actions have resulted in the take down of over 900 scam crypto websites and the removal of 56 apps from UK apps stores. We are continuing to work with social media companies to remove and block illegal content on their platforms.
