FCA tells content creators to check before posting financial promotions

The Financial Conduct Authority has published practical guidance and a dedicated webpage to help social-media creators verify that financial promotions comply with UK law before they post.

Nearly 19,800 financial promotions were amended or withdrawn after FCA intervention in 2024 — almost double the 10,008 recorded in 2023. The regulator has now published consolidated guidance aimed squarely at content creators, warning that social-media posts, videos, livestreams and stories can all constitute financial promotions if they persuade or encourage people to buy, invest in or use financial products.

The figures show the scale of non-compliance the FCA is trying to address. By October 2024, the regulator had interviewed 20 so-called finfluencers under caution and issued 38 alerts against social-media accounts suspected of carrying unlawful promotions — including accounts promoting foreign-exchange trading without FCA authorisation.

The trust problem is stark. The FCA’s own data shows 62 per cent of 18- to 29-year-olds follow social-media influencers, and 74 per cent of those young followers say they trust influencers’ advice. Nine in ten said influencers had encouraged them to change their financial behaviour — a finding that explains why the regulator has flagged particular concern about promotions for investment and credit products aimed at younger consumers.

Under the Financial Services and Markets Act 2000, an unauthorised person who promotes a regulated financial product without approval from an FCA-authorised person may commit a criminal offence. The FCA’s guidance tells creators to check who made or approved a promotion, confirm the relevant permissions on the Financial Services Register, and pause before posting if they’re unsure.

The rules aren’t new. The FCA issued finalised guidance on social-media financial promotions in March 2024, and its approach is technology-neutral — the same obligations apply regardless of the platform or format. The new webpage doesn’t create fresh obligations; it pulls together existing requirements in one place.

Firms using affiliate marketers or influencers can’t simply hand off responsibility. The FCA says those firms remain accountable for taking proactive steps over how affiliates communicate financial promotions. Any promotion must be fair, clear, not misleading, and present benefits and risks in a balanced way.

Key information

• Check authorisation: Use the FCA’s Financial Services Register to confirm a firm is authorised before posting any promotional content on its behalf.
• Pause if unsure: The FCA advises creators to stop and verify approval arrangements before publishing — not after.
• Criminal risk: Promoting a regulated financial product without proper approval may constitute a criminal offence under the Financial Services and Markets Act 2000.
• Guidance webpage: The FCA’s consolidated guidance for content creators is available via the regulator’s official website at fca.org.uk.