Common unauthorised activities flagged to the regulator included share fraud, land banking, get-rich-quick investment scams and individuals continuing to work in the financial services despite being prohibited by the regulator.
The regulator published consumer warnings about 144 unauthorised firms, took five civil actions against firms and four in the criminal courts.
Former FSA chairman Lord Turner said the regulator’s successor bodies would build on its achievements: “They will be in a better position to do so because they are able to focus on the distinct challenges of prudential and conduct regulation and supervision.
“The sheer range of FSA responsibilities and activities described in this report illustrates the case for a new organisational approach which will enable that distinct focus.”
The FSA began a criminal prosecution against two former independent financial advisers for giving unauthorised investment advice and also targeting elderly and vulnerable clients.
In a second case, the regulator charged another banned IFA with 13 counts of breaching his prohibition and three counts of assisting a fraud by false representation.
The FCA replaced the FSA on 1 April this year.
