The FCA has published its financial promotions data for Q2 2024 on its actions against firms breaching financial promotion rules, and referrals and investigations into unregulated activity.
During the period:
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3,273 promotions were amended or withdrawn by authorised firms;
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528 alerts were issued on unauthorised firms and individuals, of which 11% were cloned scams;
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the FCA has provided feedback to firms on compliance with direct offer financial promotions;
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after a review of 187 promotions relating to 19 firms promoting lifetime mortgages, the FCA has identified concerns with promotions from 4 firms for not providing sufficient balance of the benefits and risks of the product. The FCA has progressed these cases with the relevant firms to ensure the promotions are amended or withdrawn; and
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the FCA is pleased with the steps many registered crypto firms are taking to address the FCA’s concerns, by engaging with authorised firms to have them approve the promotions of partner fi