Legal Consequences for 'Finfluencers' Providing Unreliable Financial Guidance
Wednesday, 27 March 2024, 15:24
Legal Implications for 'Finfluencers'
The Financial Conduct Authority (FCA) recently highlighted the risks for 'finfluencers' providing misleading financial advice. Lucy Castledine of the FCA reiterated the necessity for transparent marketing practices to protect consumers.
Penalties
Any financial influencers found guilty of providing deceptive advice may face severe penalties, including imprisonment for up to two years or substantial fines.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.