FCA sets 2028 trial for unauthorised social media FX promotions
Lucy Beck pleaded not guilty at Southwark Crown Court to charges of promoting FX CFDs on social media without FCA authorisation; trial set for June 2028.
The FCA continues criminal enforcement against unauthorised financial promotions on social media under FSMA sections 21 and 25. This confirms ongoing focus on 'finfluencer' risks and unauthorised promotion of high-risk retail products.
Signals sustained FCA criminal enforcement against illegal promotions, relevant to firms whose products may be marketed by unauthorised affiliates or influencers.
Action Required
Reinforce financial promotions surveillance covering influencer channels and unauthorised third-party marketing of CFDs and FX products.
Ongoing FCA enforcement against finfluencers shapes obligations around affiliate and third-party marketing oversight.
Review affiliate and influencer marketing controls for CFD/FX products. Ensure third-party promoters are authorised or approved, with monitoring of social media channels.
“Lucy Beck attended Southwark Crown Court for a hearing on unauthorised promotions on social media. She entered a not guilty plea, trial set for 12 June 2028. It is alleged she promoted FX CFDs via social media without authorisation, contrary to FSMA sections 21 and 25.”
Published: 2026-08-02