FCA social media crackdown: Three 'finfluencers' make first court appearance

The three are alleged to have encouraged social media followers to "invest in foreign exchange (forex or FX) trading through high-risk products known as contracts for difference, without having the authorisation to promote these investments", the watchdog said.  The charges follow the FCA's announcement in June this year of a "coordinated global enforcement action" targeting illegal financial promotions by finfluencers across multiple jurisdictions. As part of that operation, the watchdog said it had authorised criminal proceedings against the three individuals.  The FCA explained ...