FCA charges 8 finfluencers with making unlawful promotions

The FCA has brought charges against 7 “finfluencers” and two other individuals in relation to an unauthorised FX trading scheme. It alleges that Emmanuel Nwanze and another used Instagram to provide advice on buying and selling CFDs, which they were not authorised to do, and that he paid 7 finfluencers to promote the account to their followers. The finfluencers now face a charge of issuing unauthorised communications of financial promotions.

Emma Radmore