On 4 August 2023, the FCA published a summary of data generated between 1 April 2023 and 30 June 2023 from its actions against firms for breaching financial promotion rules, and referrals and investigations into unregulated activity.
Among other things the FCA reports that:
- Its interventions in Q2 2023 resulted in 1,507 promotions being amended or withdrawn by authorised firms.
- On 8 June 2023 it issued Policy Statement 23/6 setting out final rules that will apply to firms promoting cryptoassets to UK consumers.
- It proactively reviewed the financial promotions of funeral plan providers which resulted in the regulator writing to 17 firms and 450 promotions being amended or withdrawn. Common themes included firm’s using their regulatory status in a promotional way, use of promotional language on safeguarding and not making it clear what is included and what is not included within the funeral plan.
