On 3 March 2022, the FCA published a new webpage concerning its consumer investments data review for the period April to September 2021. The FCA mentions that a quarter of applications from firms wanting to join the consumer investment market are being stopped by the FCA. The proportion is up from 1 in 5 in the last financial year.
The FCA reports that during the period it received 16,400 enquires about possible scams, up nearly a third from the same period in 2020. The top types of scams being reported to the FCA included cryptoasset, boiler room and recovery room scams. The FCA also reveals that over six months, it has opened over 300 cases relating to possible cryptoasset businesses not registered with the FCA, many of which may be scams, and that it has 50 live investigations, including criminal probes, into unauthorised businesses.