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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

UK watchdog interviews 20 social media ‘finfluencers’ under caution

Financial Conduct Authority signage
The FCA is focusing on influencers touting foreign exchange and contracts for difference (CFD) trading. Photograph: Toby Melville/Reuters

Britain’s financial watchdog has interviewed 20 social media influencers under caution, as it clamps down on “finfluencers” who may be touting financial services products illegally.

The 20 were interviewed voluntarily using the Financial Conduct Authority’s criminal powers. Potential penalties include fines and imprisonment of up to two years.

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