The combined cost of two operations the Financial Conduct Authority pursued against finfluencers over illegal financial promotions thus far has hit almost £250,000.
Between 1 July 2023 and 10 July 2026, the FCA engaged in two enforcement operations against finfluencers, one initiated prior to July 2023 and the other in 2024, according to a Freedom of Information request by Professional Adviser sister title Investment Week. One of the relevant operations went to trial for the promotion of an unauthorised foreign exchange trading scheme, resulting in seven convictions in February of this year and fines totalling £7,082. One person is awaiting trial related to this case. The second relates to a global enforcement action targeting illegal finan...
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