FCA cracks down on unregulated “finfluencers” promoting illegal financial products on social media, increasing scrutiny and taking legal action against those violating regulations

The FCA issued 38 alerts on social media accounts run by finfluencers suspected of promoting financial products illegally as scams increasingly impact young people. With 62% of 18-29-year-olds following influencers and many trusting their advice finfluencers’ promotions can significantly shape financial decisions…