FCA doubles action against rise in noncompliant financial promotions

The number of financial promotions withdrawn or amended after FCA intervention doubled to nearly 20,000 in 2024 - a year that saw "a growing number of misleading and illegal" advertisements, according to the regulator.

By Neasa MacErlean

Half of the total relates to the CMC (claims management company) sector, and other significant problem areas are cryptoassets and debt advice. The Financial Conduct Authority is also worried about the targeting of vulnerable customers.