The Financial Conduct Authority has led an international week of action against illegal financial promotions by social media influencers, as it called on platforms to do more to stop harmful content at source.
17 regulators worldwide took part in the initiative, which began on 20 April 2026 and included enforcement activity, consumer awareness campaigns and education for finfluencers seeking to act responsibly.
In the UK, the FCA said it had secured a guilty plea from Geordie Shore’s Aaron Chalmers for illegal promotions on social media. Criminal proceedings have also been commenced against a further two individuals for similar offences.
The regulator also sent four targeted warning letters to individuals suspected of engaging in unauthorised financial promotions, issued 34 warning alerts against unauthorised firms or individuals, and updated a further 14 warnings.
As part of the action, the FCA made 120 account takedown requests to social media platforms hosting illegal finfluencer content.
Within those accounts, the regulator identified 1,267 illegal financial adverts, which it said had reached at least 2,338,372 UK accounts. It added that 66% of the adverts were from firms or individuals already on the FCA’s Warning List.
The FCA said social media platforms were not doing enough to uphold their own policies to block illegal content and called on them to play a more proactive role in stopping illegal financial promotions before they reach consumers.
Steve Smart, executive director of enforcement and market oversight at the FCA, said: “This collective push with international partners is vital in helping to protect millions of consumers from harm.
“We will only make real progress in the fight against financial crime if every part of the system plays its role – including social media firms.”
The latest action follows a previous international week of action involving the FCA and eight other regulators in June 2025.
Consumers are being encouraged to use the FCA Firm Checker to confirm whether a firm is authorised for the services being offered and to reduce the risk of falling victim to a scam. The tool also shows unauthorised firms and individuals that are on the FCA’s Warning List.
Caroline Black, consultant at Gherson Solicitors LLP, said: “It is notable that influencers have become a key target for the FCA and internationally in recent months. Influencers need to be aware that straying into regulated territory is not a way to make easy money – but a quick path to becoming embroiled in criminal legal proceedings. Advice should be sought prior to producing such content.
“Social media platforms can also expect greater attention and increased regulation if they continue to fail to meet their own compliance standards.”
