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| 1 minute read

The FCA is on a tear against retail investments promotions and unauthorised business

It's already well-telegraphed that the FCA is focused on retail customer harm from high risk retail investments (and their promotion) and unauthorised business.

But the FCA stats are too striking to pass over.  I have two charts for you.

First up: the number of FCA cases resulting in promotions being amended or withdrawn.  Whilst at the back of 2022 you might have said "watch out, retail banking marketing teams", the story is different now.  Retail investments are swallowing up the case portfolio.  Retail lending is substantial too but is definitely in second place.

And next: the number of alerts the FCA is issuing about unauthorised firms and individuals.  In its letter to the Treasury Select Committee recently the FCA provided annual stats.  But it's worth looking at the quarterly because the trend really pops out.  What a bullish chart.  Unfortunately.

What does this mean for larger regulated firms?  They should continue to keep their customers vigilant against fraud and scams including clone firms.  And they should keep their retail investments promotions subject to close compliance review.  After all, whilst many of the retail investments cases might involve smaller players, it's best not to get caught in the crossfire - and the FCA is always looking to land a big fish.


fca, interventions, uk, financial promotions