The FCA undertakes many reviews of firms’ financial promotions, which are identified through multiple sources including both consumer and firm referrals. The FCA looks at every financial advert reported to it. Where it concludes that an advert is in breach of its rules, it asks the firm which has communicated or approved it to withdraw the advert, or change it so that it complies with the FCA requirements. It may also ask firms to consider whether any customers may have acted on the basis of non-compliant promotions and to take appropriate action to remedy any harm which consumers may have suffered as a result.
This data shows the number of actions the FCA has taken to mitigate non-compliance of its financial promotions rules and guidance for 2021 Q4.
In Q4 2021 the FCA reviewed 268 financial promotions from multiple sources.