On 26 April 2024, the FCA published a new webpage concerning its financial promotions quarterly data for Q1 2024.

The webpage provides a summary of data generated between 1 January 2024 and 31 March 2024 from the FCA’s actions against firms breaching financial promotion rules, and referrals and investigations into unregulated activity.

Among other things FCA interventions in Q1 2024 resulted in 2,211 promotions being amended or withdrawn by authorised firms. The FCA issued 597 alerts on unauthorised firms and individuals, 11% of these were clone scams.

The FCA also reminds firms that on:

  • 8 January 2024, the modification by consent – which delayed the start of the Direct Offer Financial Promotion rules – ended.
  • 7 February 2024 the financial promotions approval gateway came into effect.