FCA proposes stronger rules on use of influencers in financial promotions

New consultation launched

John Brazier
clock • 2 min read

The Financial Conduct Authority (FCA) has launched a consultation to revamp its social media guidelines to crack down on the non-compliant use of influencers in financial promoters.

The regulator stated it has moved to "modernise" guidelines used for online financial promotions follows recognition of the "the significant increase in notoriety of ‘finfluencers' and the potential for consumer harm taking place online." The FCA has launched the consultation across financial services sectors which will run for the next eight weeks. Meanwhile, engagement with the regulator has also helped secure changes to the advertising policies of several Big Tech companies, to only allow financial promotions that have been approved by FCA-authorised firms. The regulator will be co...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

Closing the protection gap will require advisers to think differently

Closing the protection gap will require advisers to think differently

“We won't close it through the actions of one adviser, one firm or one network”

Toni Smith
clock 30 September 2026 • 4 min read
Triple lock to change in 2030: Burnham

Triple lock to change in 2030: Burnham

PM said state pension to ‘rise at least by prices [inflation] or 2.5%’

Isabel Baxter
clock 29 September 2026 • 3 min read
Burnham to propose social care plans at general election

Burnham to propose social care plans at general election

Aims to be preventative

Jaskeet Briah
clock 28 September 2026 • 2 min read