Online finfluencers: Dangerous mis-selling risk or legitimate route for everyday investors?

Finfluencers 

Wednesday 30 April, 14:45, Grimond Room, Portcullis House  

The Treasury Committee is holding a session on the role and regulation of online financial influencers, or ‘finfluencers', in the UK.  

MPs will hear from officials at the Financial Conduct Authority (FCA) who hold responsibility for monitoring influencer content and overseeing enforcement when rules are broken. 

In the session, the Committee is seeking to understand the finfluencer landscape. Specifically, they will be looking at the trends and rules which apply to the promotion of financial products and regulated investment advice. This includes how clear the line between permissible content and illegal advice is both for content creators and the general public. 

MPs may also look at the promotion of memecoins and how the FCA attempts to police social media content creators giving potentially harmful advice. 
 

Other areas which may be covered include the role of social media companies in taking down illegal content and how the regulator handles content produced outside of the United Kingdom. 

Witnesses:  

·       Steve Smart, Joint-Executive Director of Enforcement and Market Oversight, Financial Conduct Authority  

·       Lucy Castledine, Director of Consumer Investments, Financial Conduct Authority