London, United Kingdom
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










UK Regulator FCA Intervenes on Advertisements from Banks & Investment Firms in Q3 2022, 4,151 Amended or Withdrawn for Misleading or Unfair Advertisements

10th November 2022 | Hong Kong

UK regulator Financial Conduct Authority (United Kingdom FCA) had intervened on advertisements from banks & investment firms in Q3 2022, with 4,151 advertisements & promotions amended or withdrawn for misleading or unfair advertisements.  UK FCA: “The FCA intervened to amend or withdraw 4,151 financial promotions between July and September, the highest since it started publishing the data.  Retail lending, investments and banking are the sectors with the highest rate of amends to or withdrawal of adverts and amount to 95% of the FCA’s interventions with authorised firms.  The FCA highlighted that it had seen several cases involving unauthorised firms and individuals seeking to take advantage of the rising cost of living. During the period, the FCA issued 303 warnings about unauthorised firms and individuals, with over 20% being about clone scams. The data also detailed various action taken by the watchdog to curb misleading and unfair behaviour by firms as well as tackling scammers.”See UK FCA statement below | View: 2022 Q3 UK FCA Data

“ UK Regulator FCA Intervenes on Advertisements from Banks & Investment Firms in Q3 2022, 4,151 Amended or Withdrawn for Misleading or Unfair Advertisements “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
6th March Hong Kong | 13th March Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 6th March 2024 in Hong Kong, 13th March 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
10th April Hong Kong | 24th April Singapore

Join 100+ single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





Mark Steward, FCA Executive Director of Enforcement and Market Oversight:  ‘As consumers feel the financial squeeze, they could be tempted by high risk, unregulated products and services or they could become a target for scammers preying on moments of vulnerability.  As a result, we’re doing even more to tackle false claims in adverts, issue prompt warnings to consumers, and we continue to engage with the largest tech and social media platforms as they also play an important part in protecting consumers from online harm. This is why changes to the Online Safety Bill to cover paid-for financial services advertising online are very much needed right now.’

The UK Financial Conduct Authority (FCA) regulates the conduct of 50,000 firms in the UK to ensure that financial markets are honest, competitive and fair.  The FCA was setup on on 1 April 2013, taking over conduct and relevant prudential regulation from the Financial Services Authority (FSA).

 

UK FCA Statement

London, United Kingdom

4th Nov 2022 – The FCA intervened to amend or withdraw 4,151 financial promotions between July and September, the highest since it started publishing the data.  Retail lending, investments and banking are the sectors with the highest rate of amends to or withdrawal of adverts and amount to 95% of the FCA’s interventions with authorised firms.

The FCA highlighted that it had seen several cases involving unauthorised firms and individuals seeking to take advantage of the rising cost of living. During the period, the FCA issued 303 warnings about unauthorised firms and individuals, with over 20% being about clone scams.

The data also detailed various action taken by the watchdog to curb misleading and unfair behaviour by firms as well as tackling scammers. For example, the FCA’s intervention resulted in 66 Buy Now Pay Later (BNPL) promotions from one firm across various social media platforms being amended or withdrawn. It said the adverts did not give fair or prominent risk warnings and were misleading about fees. Although the FCA does not yet regulate BNPL, it warned BNPL firms about misleading promotions earlier this year.

The FCA also took action to write to consumers that it found to have been included in a mailing list being used by scammers to carry out ‘loan fee’ or ‘advanced fee’ fraud. With this type of scam becoming more common as the cost of living rises, the FCA relaunched its ScamSmart campaign around loan fee fraud over the summer to help raise awareness among borrowers that might be in vulnerable circumstances.

 

Mark Steward, Executive Director of Enforcement and Market Oversight at the FCA commented:  ‘As consumers feel the financial squeeze, they could be tempted by high risk, unregulated products and services or they could become a target for scammers preying on moments of vulnerability.  As a result, we’re doing even more to tackle false claims in adverts, issue prompt warnings to consumers, and we continue to engage with the largest tech and social media platforms as they also play an important part in protecting consumers from online harm. This is why changes to the Online Safety Bill to cover paid-for financial services advertising online are very much needed right now.’

 

About Financial Conduct Authority (FCA) 

The UK Financial Conduct Authority (FCA) regulates the conduct of 50,000 firms in the UK to ensure that financial markets are honest, competitive and fair.  The FCA was setup on on 1 April 2013, taking over conduct and relevant prudential regulation from the Financial Services Authority (FSA).




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    InvestorProfessionalFamily OfficeExecutive


    SubscriptionMembershipEvents


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights










    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleSingapore Investment Scam: A Single Investor Lost S$6.4 Million & 2,476 Investors Lost S$190 Million in 2021
    Next articleShanghai Stock Exchange to Expand Stock Connect Program to Major Stock Exchanges, Currently Linked with Hong Kong, London, Zurich & Frankfurt
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia