FCA arrests three in unlawful financial promotions probe

FCA and ERSOU arrested three individuals and searched two properties in an investigation into suspected illegal financial promotions.

The FCA, with police support, executed arrests in a crackdown on suspected unauthorised financial promotions. The action signals continued enforcement focus on the Section 21 financial promotions regime and unauthorised firm activity, particularly via social media channels.

Reinforces enforcement risk for firms approving or facilitating promotions for unauthorised entities.

Financial promotions regime enforcement remains a top FCA supervisory priority.

“Three people were arrested as part of an FCA-led operation with ERSOU targeting suspected illegal financial promotions. Two homes in Chelmsford and Romford were searched. Adverts from non-FCA-regulated firms can be a warning sign of scams.”