FCA leads global crackdown on illegal ‘finfluencers’

The Financial Conduct Authority has led an international week of action against illegal financial promotions by social media influencers, as it called on platforms to do more to stop harmful content at source.

Caroline Black, consultant at Gherson Solicitors LLP, said:
“It is notable that influencers have become a key target for the FCA and internationally in recent months. Influencers need to be aware that straying into regulated territory is not a way to make easy money – but a quick path to becoming embroiled in criminal legal proceedings. Advice should be sought prior to producing such content.
“Social media platforms can also expect greater attention and increased regulation if they continue to fail to meet their own compliance standards.”

Read more in the articles:

• Mortgage Soup – FCA leads global crackdown on illegal ‘finfluencers’
• DIY Investor – The Do-It-Yourself Investing Blog
• The Legal Diary – Edward Fennell’s LEGAL DIARY 

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