United Kingdom: Issued FCA guidance for memes, reels and gaming streams promoting financial services

On 26 March 2024, the Financial Conduct Authority (FCA) issued a guidance for memes, reels and gaming streams promoting financial services. The FCA aims to ensure that advertising across social media channels is fair, clear, and not misleading, enabling well-informed financial decisions. The guide clarifies the platforms's responsibilities for all promotions, including those made by influencers, and notes that influencers need approval from an FCA-authorised person to promote financial products.