Some 56 FCA-regulated firms amended or withdrew 5,310 financial promotions or advertising between 1 July and 30 September following intervention by the regulator.

XPS Pensions has promoted 11 new partners and more than 150 people across its actuarial, pensions, investment, administration, SIPP and analytics businesses.

The Financial Conduct Authority told firms to amend or remove 8,582 financial promotions during 2022 - 14 times the level of 2021.