FCA probes 20 'finfluencers' over illegal financial product promotion

Amid rising concerns about social media advice

Sahar Nazir
clock • 6 min read

The Financial Conduct Authority (FCA) has launched an investigation into the activities of 20 social media influencers, or ‘finfluencers’, who are being interviewed under caution for potentially promoting financial products illegally.

This action is part of the regulator's broader effort to address the risks posed by unregulated financial advice on social media platforms. Alongside the interviews, the FCA has issued 38 alerts against social media accounts operated by finfluencers, flagging concerns that these accounts may be unlawfully promoting financial services. The regulator's action comes amid rising concerns about the influence of social media on young people's financial decisions. Nearly two-thirds (62%) of 18- to 29-year-olds follow financial influencers on platforms such as Instagram, TikTok, and YouTub...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

Sahar Nazir
Author spotlight

Sahar Nazir

News Editor at Professional Adviser

More on Your profession

Culture is the most effective risk tool wealth managers are missing out on

Culture is the most effective risk tool wealth managers are missing out on

'Understanding a firm's culture is understanding its risk profile'

Bev Shah
clock 09 January 2026 • 5 min read
FCA sets October 2027 date for implementation of cryptoasset rules

FCA sets October 2027 date for implementation of cryptoasset rules

Issues further guidance

Michael Nelson
clock 09 January 2026 • 1 min read
WH Ireland shareholders back Team takeover in key vote

WH Ireland shareholders back Team takeover in key vote

FCA clearance still required

Sahar Nazir
clock 09 January 2026 • 3 min read