Dawn raids plummet

The number of dawn raids undertaken by the financial regulator has fallen steeply in the last two years, according to data obtained by law firm Reynolds Porter Chamberlain. In 2009 the Financial Services Authority conducted 37 dawn raids, and nearly as many the following year – 36. But then they fell away sharply, almost halving for two years in a row: in 2011 there were 21 dawn raids and last year there were only 11.