FCA leads international initiative against unauthorised finfluencer promotions
The Financial Conduct Authority (FCA) has led an international initiative to address unauthorised financial promotions by social media finfluencers. In collaboration with regulatory bodies from Australia, Canada, Hong Kong, Italy, and the United Arab Emirates, the FCA took part in a ‘global week of action against unlawful finfluencers’ resulting in enforcement measures that have involved arrests, the authorisation of criminal proceedings, interviews and the issuance of cease and desist letters and warning alerts, in the UK.