FCA: Financial promotions data 2024

The FCA gives an analysis and insights on the data collected from 1 January 2024 to 31 December 2024. It covers action taken against authorised firms breaching financial promotion rules and referrals and investigations into unregulated activity. The data gives an overview of the FCA's work to improve and raise standards across the financial services markets. The FCA aims to ensure that consumers receive information about financial promotions which is clear, fair and not misleading, helping them to make informed decisions before spending their money. ##Key messages include * In 2024 the FCA increased its interventions in response to failures in financial promotions in both authorised firms and unauthorised firms and individuals. It is still concerned about the levels of compliance with the financial promotions’ rules and will keep focusing on this area to reduce consumer harm. * Following the FCA's interventions, for authorised firms it had 19,766 promotions amended/withdrawn. This is an increase of 97.5%, compared to 10,008 in 2023. * The FCA accepted voluntary requirement requests from 18 firms and used its own initiative powers on 2 firms to restrict their ability to communicate or approve financial promotions. * For unauthorised firms and individuals, the FCA issued 2,240 alerts in 2024. While this is a decrease of 2% from 2,286 in 2023, the alerts remain high compared to historical levels. The alerts continue to warn the public when they may be dealing with an unauthorised, scam or clone firm.