Regulations
By Sakamoto Nashi
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Regulators From Five Continents Join Fight. Australia, Brazil, Canada, India, Qatar—regulators from all these countries participated.
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Two-Thirds of Illegal Ads From Known Bad Actors. Here's the wild part. Sixty-six percent of the illegal financial adverts came from entities…
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The Financial Conduct Authority kicked off a week-long global blitz against illegal financial influencers starting April 20. Seventeen regulators joined in. The target?
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Reality TV star Aaron Chalmers pleaded guilty to illegal social media promotions in the UK. The FCA didn't stop there.
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Social media companies got hammered for doing basically nothing to stop this stuff. The FCA wants platforms to block illegal content before it spreads, not just react after the…
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Australia, Brazil, Canada, India, Qatar—regulators from all these countries participated. The Monetary Authority of Singapore came in.
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The collaboration builds on a smaller effort from June 2025 that involved eight regulators. But the problem's gotten bigger.
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The regulators spent the week on enforcement actions, consumer awareness campaigns, and educational programs.
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Here's the wild part. Sixty-six percent of the illegal financial adverts came from entities already on the FCA's Warning List. These weren't new scammers flying under the radar.
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The FCA issued 2,329 warnings about unauthorized or potential scam entities last year alone. That's a lot of warnings.
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Many of the flagged adverts violated social media platforms' own policies. Most platforms require financial services ads targeting UK consumers to be made or approved by…
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See also: FCA Official Compares Financial Authorization to Marathon Training at Spring Conference
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The FCA encourages consumers to use its Firm Checker tool before handing over money. The tool verifies whether a firm is authorized to offer financial services in the UK.
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Consumer education became a big focus during the week of action. The FCA and its international partners ran programs aimed at making social media users aware of the risks.
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The initiative shows the FCA's commitment to creating a secure financial environment. But the regulator keeps saying it needs more cooperation from social media platforms.
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