Social media activists face the courts.
Great news! Unlicenced financial advisers are being prosecuted by the FCA. see here
This apparently includes Love Island contestants – even better news if you feel that contestants on that programme resemble pineapples.
When I was a salesman at Allied Dunbar we had two main concerns. First up was the numbers- “have I sold anything this week?” which matched any fancy diet in keeping our weights down. But second was the dreaded” Escape Committee.” This was the man down the pub who propped up the bar shaking his head whenever anyone mentioned Allied Dunbar or their latest investment or insurance product. He always knew better, and the following week the clients would hesitate to commit to signing what they had seemed so keen about the previous week.
The bad news on the unlicenced adviser FCA prosecution is that we have to wait until February 2027 for them to face a court.
FCA said this: “Finfluencers need to check the products they promote to ensure they are not breaking the law and putting their followers’ livelihoods and life savings at risk.”
About time! And nice to see a regulator acting to protect our industry.