Reference Case Number: FOI2026/01558
Freedom of Information: Right to know request:
- The number of investigations and enforcement actions undertaken by the FCA in relation to so-called ‘finfluencers’ between 1 July 2023 and 10 July 2026.
Please provide a breakdown by year. - The total costs associated with legal action involving ‘finfluencers’ between 1 July 2023 and 10 July 2026.
This should include, where held, costs relating to legal preparation, evidence gathering, case preparation, court proceedings, and any other related legal activities. Please provide the figures broken down by year. - The number of cases involving ‘finfluencers’ that resulted in a conviction between 1 July 2023 and 10 July 2026.
Please provide a breakdown by year. - The number of cases involving ‘finfluencers’ that did not result in a conviction between 1 July 2023 and 10 July 2026.
Please provide a breakdown by year. - The number of ‘finfluencer’ investigations conducted between 1 July 2023 and 10 July 2026 that were not subsequently brought before a court.
FCA response:
The number of investigations and enforcement actions the FCA has taken against so-called ‘Finfluencers’ in the last 3 years (between 1 July 2023 and 10 July 2026) - please break it down by year.
Between 1 July 2023 and 10 July 2026, we have engaged in two enforcement operations against finfluencers. One was initiated prior to the time period laid out in the request and the second was initiated in 2024. Both operations are still currently active.
Furthermore, we have interpreted your reference to ‘enforcement actions’ to mean ‘enforcement outcomes’, the details of which can be found in our response to questions 3-5 below.
The costs related to 'finfluencer' legal actions (including legal preparation, case and proof gathering, time spent in court etc.) relating to those cases, as a cumulative figure, broken down by year (between 1 July 2023 and 10 July 2026).
Please see the tables below for a breakdown of the costs associated with each operation. Please note that we do not hold figures for July 2026, as these figures have not yet been reconciled.
| Operation 1 | |
|---|---|
| Year | Costs (£) |
| 1 July 2023 - 30 June 2024 | Not applicable |
| 1 July 2024 - 30 June 2025 | 33,510.38 |
| 1 July 2025 - 30 June 2026 | 46,238.36 |
| Operation 2 | |
|---|---|
| Year | Costs (£) |
| 1 July 2023 - 30 June 2024 | 76,869.82 |
| 1 July 2024 - 30 June 2025 | 61,586.23 |
| 1 July 2025 - 30 June 2026 | 25,330.87 |
- How many of those trials ended in a conviction (over the same timeframe).
- How many of those trials did not end up in a conviction (over the same timeframe).
- How many investigated cases were not brought to court (over the same timeframe).
One of the relevant operations has gone to trial, resulting in 7 convictions to date. 1 person is awaiting trial. More information on the convictions can be found in our press release here: Influencers fined for issuing unauthorised financial promotions | FCA[1].
The other operation has the below outcomes to date:
- 6 individuals have been charged. Of these: 4 await trial and 2 have pleaded guilty and await sentencing.
- 2 individuals accepted police cautions.
- 12 individuals were sent warning letters.
- 3 enquiries against individuals were closed with no further action.
- 1 enquiry into an individual was not pursued due to other police action.
Further information can be found here: First court appearance for three ‘finfluencers’ charged in FCA-led global crackdown on illegal promotions | FCA[2] and FCA spearheads global action to stop illegal finfluencers | FCA[3].
No trials have concluded without a conviction.
The figures for cases that were not brought to court are above.