Information on dawn raids conducted by the FCA -October 2022

I am writing to request data on the number of dawn raids conducted by the FCA.

I am aware of previous disclosures detailing these on an annual basis up to and including 2019.

Please provide these figures for 2020, 2021 and for 2022 to date.

Investigators appointed under FSMA have a range of information gathering powers available to them from written on notice requirements through to without notice warrants to enter and search premises in the company of a constable.  The reasonableness of deploying a particular statutory power depends on the circumstances of each individual case. Where we assess that a firm or individual may be co-operative, we use commensurate powers and provide notice of our requirement for information and the subject is afforded a reasonable timeframe to provide the information.  Where we have reasonable grounds to believe our “on notice powers” would not be complied with and evidence would be tampered with or destroyed, we will seek to use our powers on a “without notice” basis.  We do not find it necessary to deploy these powers very often and this is the reason that the number of instances are small.

We have interpreted “dawn raid” 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.  

We have interpreted your reference to the years to mean calendar years and our response is in the table below.