FCA Acts to Combat Misleading Financial Promotions

Consumers should always be sure that they fully understand any financial product they intend to use and that they only deal with reputable providers. A recent report on steps taken by the Financial Conduct Authority (FCA) in 2024 against misleading financial adverts illustrates the dangers of failing to do so.

Intervention from the FCA led to 19,766 financial promotions being amended or withdrawn in 2024, an increase of 97.5 per cent on the previous year. The FCA has highlighted concerns with promotions relating to cryptoassets, debt solutions and claims management companies: FCA action led to 9,197 claims management company promotions being withdrawn in 2024, many of which were related to housing disrepair and motor finance claims and were aimed at vulnerable consumers.

Rules around financial promotions have been strengthened, including the introduction of the Section 21 Gateway, which requires firms to obtain permission from the FCA before approving promotions for unregulated persons. The FCA also launched targeted action against 'finfluencers': 20 people were interviewed under caution in 2024 following illegal financial promotions on social media.

A total of 2,240 warnings about unauthorised or potentially scam firms were issued in 2024.

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.

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Dr M Hamilton
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Second time using them for the sale of a house, first included a purchase as well. Quick, efficient, and responsive and helpful. Thanks to Kerry for making a stressful time easier.
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Mrs Sheila Draper
In terms of Wills and Lasting Power of Attorney we were provided an excellent service by our solicitor Megan. We were taken through a step by step process and all of our questions were answered. Reassurances were given where necessary and the whole approach was both professional and empathetic.
Mr Freddie McMahon
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Thank you, Lisa, for your very efficient handling of our probate application. I am pleasantly surprised at the speed at which it has been concluded.
Mr Julian Driver
Many thanks to Carla Foster and her team at Brights Solicitors Maldon. I have used Brights many times in the past and been very happy with their service. I would highly recommend them and have always found everyone to be professional, efficient and friendly.
Liz Donovan
We've used Carla several times. Kept us informed despite some challenges at the top end of the chain . Really appreciate her efforts. Another good job. Thank you .
Mr Paul Foster
Fantastic service. Kept me informed at every step of the progress of my house purchase. Very detailed review of my property and an excellent final report. Would happily use again for anything requiring a solicitor.
Angela McDonald
Thank you (and your excellent supporting colleagues) for your hard work, patience and understanding during the process, we were both more than happy with your professionalism and assistance throughout. We were kept fully updated with relevant developments, without either of us needing to constantly badger you for info’ and anything that was required of us (signing documents etc) was clearly explained, all in good time. Thank you again for making an upsetting and worrying ordeal for both of us, as pain-free as possible.
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Megan was very approachable, friendly and very professional. She was also very understanding at a difficult time for me. I was very impressed when she told me today that probate had been approved, when it was only submitted last Tuesday. That was obviously due to her attention to detail.
Mrs Yvette Hooks
Absolutely fantastic service from start to finish, Bronwyn was informative and very efficient in everything she did for our house sale and purchase. Can recommend Bights for all your conveyancing needs.
Ms Stephanie Newton
Absolutely faultless service for the recent purchase of our new house. Thorough, concise, accurate & direct communication all the way through the purchase process. Carla & her team were a pleasure to deal with & all at a very reasonable cost! Well done and a big thank you to Carla & the team at Brights, Amazing!
Mr Simon Kane
Just sold our home of 42 years with the help and excellent services of Carla Foster at Brights solicitors Maldon. Cannot speak highly enough of Carla, who throughout the selling process has kept us informed and up to date. Thank you Carla and Brights for making what can be a trying experience a comfortable and pleasant one for us.

Mr and Mrs Lumley
This is the second time we have used Brights Solicitors to sell a property. Carla’s support through both sales has been very professional and steadfast. We are in the process of buying a new property and we are extremely happy that Carla has agreed to provide conveyancing services. Carla’s diligent and pragmatic approach is very important when stress levels can easily rise.

Ms Mel Flaxman
We had the pleasure of dealing with Carla Foster at Brights over the sale of our house and were so impressed with how quickly and efficiently it was handled. We had regular communication, speedy email copies of all letters and were just generally kept well-informed of what was going on. She also kept our estate agents up to date, and we received everything to do with completion through the post the very next day after it was all done. Wouldn't hesitate to recommend and we will definitely be back when we find a new place!

Ms Ashley McLeish
Working with Brights Solicitors and Carla, I felt supported through the whole process of the sale - they understood my needs, progressed the sale and updated me along the way.

Mr John Flack
Great service and very efficient felt like we were in safe hands, all the staff have been very friendly and helpful. I will use Brights again and would also recommend them to others.

Mrs Yvette Lumley
Today we completed on our house and Carla and her team have been fantastic throughout what has been an exciting yet stressful time. They've kept us up to date throughout the process as first time buyers and have been superb! Thank you so much!

Mr Jamie Witham
My husband and I are extremely pleased with Hannah from your Witham office. We had our wills written out by her and we were delighted with her kindness and professionalism. Hannah had such patience with us, explaining everything to us as we had a couple of things we didn’t quite understand. This was a difficult thing for us to do and we were rather nervous about doing our wills, but Hannah put us at ease immediately. I would like to highly commend her. Thanking her and Brights for great service.

Mr & Mrs Parker
Highly recommend Carla Foster who provided a friendly & professional service during the sale of our property. Will definitely use again for any property matters.

Ms Nicola Baird
Very efficient solicitors who managed to get my sale through before the deadline of 31st March 25 when stamp duty changed. Thanks.

Mr Steve Hawkins
Bright & Sons (Solicitors) in Witham, Essex had been our solicitors for several years. When I sadly lost my dear wife Jacqueline in August 2024 I instructed them to handle my wife’s estate and as the solicitor who normally handled our affairs was retiring I was allocated to Kate Latter. She, together with her secretary Jackie Watkin, have been extremely supportive of me and have dealt with the estate happily, efficiently and quickly. Nothing has been too much trouble for them – I cannot thank them enough. Very satisfied client in Tiptree.

Mr Dallas King

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