The Financial Conduct Authority has arrested three individuals as part of an investigation into suspected unlawful financial promotions. The operation, led with the Eastern Regional Special Operations Unit, included searches of two homes in the Chelmsford and Romford areas, and all three individuals have been interviewed under caution. The investigation remains ongoing and the FCA said further updates will be provided in due course. In the statutory background accompanying the announcement, it noted that under the Financial Services and Markets Act 2000 it can investigate and prosecute unauthorised business cases, including breaches of the general prohibition and the communication of unauthorised financial promotions, each punishable on conviction by a fine, imprisonment for up to two years, or both. False or misleading statements under the Financial Services Act 2012 can carry a fine, imprisonment for up to 10 years, or both.
Financial Conduct Authority 2026-05-01
United Kingdom's Financial Conduct Authority arrests three in suspected unlawful financial promotions investigation
The Financial Conduct Authority has arrested three individuals as part of an ongoing investigation into suspected unlawful financial promotions, conducted with the Eastern Regional Special Operations Unit and involving searches of homes in Chelmsford and Romford. The authority highlighted its powers under the Financial Services and Markets Act 2000 and the Financial Services Act 2012 to investigate and prosecute unauthorised business and false or misleading statements, which can attract fines and custodial sentences of up to 10 years.