Information on dawn raid statistics

Reference Case Number: FOI2025/1493

Freedom of Information: Right to know request:

1.The total number of dawn raids conducted by the FCA between 1 January 2024 and the date of this request.

2.If available, please provide a breakdown of these dawn raids by the primary offence/regulatory breach under investigation.

3.Please also specify how many dawn raids in the relevant period were conducted solely by the FCA and how many were conducted in conjunction with other regulatory or law enforcement authorities (e.g., SFO, HMRC, NCA).

FCA response:

Question 1

We have interpreted “dawn raids” to mean the exercise of statutory powers of search and seizure by the FCA or law enforcement in connection with an FCA investigation on a without notice basis. The figures relate to each use of a statutory power of search & seizure. There may be occasions where multiple powers are used simultaneously.

The FCA have executed 12 search and seizure operations between 1 January 2024 to 19 November 2025.

Question 2

The below table provides a breakdown of dawn raids by primary offence/regulatory breach:

Offences/Breaches
S52 CJA
S19 FSMA
S19 FSMA
Reg 56 and 86 of MLRS
S89 FSA; S4 FA; S327 POCA
S19 FSMA
S19 FSMA; S21 FSMA; S24 FSMA
S52 CJA
S19 & 21 FSMA
S19 FSMA
Reg 56,86,92 MLRs; S327 POCA
S19 FSMA, S327, S328, S329 POCA

Question 3

When executing a Section 176 FSMA warrant the FCA must have the warrant executed by a person with constable powers. When the FCA seek the assistance of the police to use the various Police and Criminal Evidence Act 1984 (PACE) powers – only somebody with constable powers can use these powers.

Therefore, the total number of searches conducted with the assistance of other regulatory or law enforcement authorities is 12.

Date of Release: 16/12/2025

Information on dawn raid statistics - December 2025

Freedom of Information: Right to know request:

FCA response:

Question 1

Question 2

Question 3

More information

Data