The UK is cracking down on individuals, known as Finfluencers, promoting certain investment opportunities. According to a release by the Financial Conduct Authority (FCA), three individuals have been charged with one count of communicating an invitation to engage in investment activity which transgresses the Financial Services and Markets Act 2000.
The three individuals in question allegedly promoted opportunities to participate in Forex by trading in contracts for difference (CFD). These are high-risk products for which these individuals did not have authorization to promote. They apparently touted these investments via social media.
An individual found guilty of the charge may be punished on indictment by a fine and/or up to 2 years’ imprisonment.
In 2024, the FCA issued 38 alerts against social media accounts run by finfluencers suspected of engaging in illegal promotions.
In early summer of 2025, the FCA joined multiple other global securities regulators to crack down on these individuals labeled as Finfluencers.
All three defendants pleaded not guilty and are set to appear at Southwark Crown Court for a hearing on October 8, 2025.
