FCA and Eight Global Regulators Unite to Crack Down on Illegal Finfluencers

Regulators worldwide, led by the UK Financial Conduct Authority (FCA), have launched a coordinated effort to protect social media users from illegal financial promotions by unauthorized financial influencers (finfluencers).

This initiative, dubbed the ‘global week of action against unlawful finfluencers’, commenced on 2 June 2025 and saw the participation of eight other regulatory bodies besides the FCA, including:

• Australia: Australian Securities & Investments Commission (ASIC)
• Canada: Alberta Securities Commission (ASC), Autorité des marchés financiers (QAMF), British Columbia Securities Commission (BCSC), Ontario Securities Commission (OSC)
• Hong Kong, China: Securities and Futures Commission (SFC)
• Italy: Commissione Nazionale per le Società e la Borsa (CONSOB)
• United Arab Emirates: Securities and Commodities Authority (SCA)

In the UK, the FCA has taken decisive steps against illegal finfluencer activities, including:

• 3 arrests in collaboration with the City of London Police
• Criminal proceedings against 3 individuals
• Inviting 4 finfluencers for interviews
• Sending 7 cease-and-desist letters
• Issuing 50 warning alerts

As a result of these alerts, over 650 takedown requests have been filed against unauthorized financial content on social media platforms, alongside more than 50 websites flagged for removal.

The Risks of Unauthorized Finfluencers

The FCA warns that certain finfluencers promote financial products or services without proper authorization through online videos and posts, often showcasing lavish lifestyles and success, often falsely,  to lure unsuspecting investors. Last year, the FCA took action against 9 finfluencers for illegally promoting an unauthorized CFD trading scheme.

To safeguard their investments, investors are encouraged to check the FCA’s Warning List before engaging with financial products. BrokersView provides regular updates on FCA warnings—stay informed by reviewing last week’s alerts here.

Before investing, always verify the legitimacy of the trading platform and avoid being swayed by promises of high returns. You can check the regulatory status via BrokersView.