Influencers fined for issuing unauthorised financial promotions
The Financial Conduct Authority (FCA) has reinforced its stance on unauthorised financial promotions with a recent court-backed enforcement action against seven social media personalities who promoted high-risk financial products without regulatory approval. The action reflects the regulator’s broader strategy to safeguard consumers and uphold market integrity in an era where digital platforms increasingly shape investment decision-making.
Under UK financial services law, anyone communicating an invitation to engage in investment activity must either be authorised by the FCA or have the promotion approved by an authorised firm. This rule is central to how the FCA regulates financial marketing and protects consumers from misleading or unlawful investment pitches. The recent sentences at Southwark Crown Court demonstrate the legal consequences when individuals — regardless of their online reach — breach these provisions.
In the latest case, the fines imposed ranged from modest penalties of several hundred pounds to several thousand, combined with significant court costs. One individual received a £3,750 fine while others were fined between £600 and £974. Those ordered to pay fines also faced additional prosecution costs with one individual ordered to pay a total sum of £5,778.18 on top of their fine. When aggregated, the total financial penalties and costs reached figures that reinforce the seriousness of the offence. On average, across the seven individuals, the fine amount alone worked out to several hundred pounds per person, highlighting that even relatively low fines can carry significant reputational and financial implications when combined with legal costs and public enforcement.
These fines follow a long-running FCA initiative to clarify expectations around how financial products — especially high-risk instruments such as contracts for difference — are marketed via social media. The FCA’s finalised guidance on social media financial promotions sets out its expectations that any promotion must be clear, fair, not misleading, and must be made by an authorised person or with appropriate approval — regardless of platform or audience size.
Beyond individual penalties, the FCA’s action feeds into a broader pattern of enforcement and international cooperation. In June 2025, the FCA led a global week of coordinated action with regulators in markets including Australia, Canada and Hong Kong to tackle unlawful financial promotions and protect consumers who may be vulnerable to unregulated marketing online.
The implications of the enforcement go beyond the immediate penalties. For social media personalities and content creators, the case serves as a stark reminder that digital influence does not exempt individuals from longstanding financial promotion rules. It underscores the need for influencers — especially those with significant reach — to understand the legal boundaries of financial content and to ensure compliance with FCA requirements.
For the public, the FCA’s action highlights the potential risks of engaging with financial content online, particularly around highly leveraged or speculative products. The regulator continues to urge consumers to verify the credentials of anyone offering financial advice or promotions and to engage only with authorised firms or individuals.
As the landscape of financial advice evolves with technology and social media, the FCA’s enforcement demonstrates that regulatory principles governing consumer protection, truthful communication and authorised engagement remain central in protecting UK investors.
Information provided by the FCA: https://www.fca.org.uk/news/press-releases/influencers-fined-issuing-unauthorised-financial-promotions
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