US EditionCrackdown on influencers promoting financial products on social media without authorization
- On June 2, 2025, the UK's Financial Conduct Authority led a multinational crackdown in London targeting unauthorized financial promotions by social media influencers known as finfluencers.
- This crackdown follows rising concerns over illegal promotions and excessive high-risk financial advice by finfluencers, with the FCA intensifying oversight after numerous regulatory interventions since early 2024.
- The FCA sent seven cease-and-desist letters, issued 50 warning alerts expected to trigger over 650 social media takedown requests and the removal of 50 unauthorized websites, and arrested three individuals in partnership with City of London Police.
- Steve Smart, joint executive director at the FCA, emphasized that financial influencers must promote only products they are authorized to endorse, warning of repercussions for those who fail to comply.
- The coordinated international effort involving nine regulators suggests ongoing strict enforcement and criminal proceedings, signaling increased accountability for financial promotions on social media.
23 Articles
23 Articles
UK targets rogue 'finfluencers' in joint action with foreign regulators
Britain's financial watchdog has joined forces with foreign regulators to crack down on people who promote financial products on social media without authorisation, and will make 650 requests for platforms to remove content, it said on Friday.
'Finfluencers' in crosshairs of regulators in UK, five other markets
LONDON, United Kingdom — Market regulators from six countries are cracking down on the illegal promotion of financial products by influencers on social media. Officials in the United Kingdom said this on Friday. The action began on Monday. Britain’s Financial Conduct Authority (FCA) said it has resulted in three arrests in the UK. Another result was
New Strait Times
eNCAUK regulator leads crackdown on 'finfluencers'
LONDON: Market regulators from six countries are cracking down on the illegal promotion of financial products by influencers on social media, UK officials said Friday. © New Straits Times Press (M) Bhd
Market authorities in six countries, including Canada, the United Kingdom and the Emirates, have been conducting joint operations since 2 June against illegal promotion by financial product influencers on social networks, the British regulator announced on Friday.
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