John Lunn

The Financial Conduct Authority (FCA) has urged Big Tech and social media companies to take stronger measures against financial influencers, known as finfluencers, who share unauthorised and potentially misleading financial advice online. While the FCA has the power to issue takedown requests, compliance remains voluntary, leading to delays in removing harmful content. With concerns growing over the risks to consumers, the FCA is pressing for more proactive intervention from major platforms.

Following on from my colleagues articles on both the Quincecare Duty and the Supreme Court decision in Philipp v Barclays Bank plc, the High Court has provided further guidance on the Quincecare Duty in Hamblin and another v Moorwand Ltd and another. This case is particularly notable as it involves a derivative action brought by Mr and Mrs Hamblin.

Over the past few years, a new age of social media influencers has emerged. These content creators tend to focus on personal finance, investing and wealth building strategies. Identifying as Finfluencers, they blend entertainment and education online to reach millions of followers.