Reference Case Number: FOI12170
Freedom of Information: Right to know request:
In 2021, the FCA received over 34,000 reports relating to potential breaches of the regulatory perimeter – where firms or individuals may be performing regulated activities without our approval.
- How many of these reports it investigated?
- From those investigations, how many reports lead to action being taken to protect consumers?
FCA response:
We would like to explain that we assess every report of unauthorised activity we receive. The cases are prioritised according to the potential harm to UK retail consumers. We deal with cases of suspected unauthorised activity in a number of ways. Generally speaking, only the most serious cases will be referred for formal investigation with a view to action being taken to protect consumers.
Six investigations relating to firms or individuals performing regulated activities without authorisation were commenced in 2021.