Some 54 FCA-regulated firms amended or withdrew 1,507 financial promotions or advertising between 1 April and 30 June following intervention by the regulator.

The FCA is to impose additional checks on firms approving financial promotions.

The Financial Conduct Authority has increased its supervision of financial promotions for newly-authorised firms.

Claims management company Samweb (UK) Limited has been stopped from carrying out regulated activities by the Financial Conduct Authority which has accused it of providing "misleading" information to consumers.