The FCA, after giving many generalised warnings has charged nine celebrities for using their social media influence to sell contracts for difference in an unauthorised foreign exchange trading scheme. They have featured on shows such as Love Island and The Only Way is Essex.
The financial influencers, or finfluencers, were named as Emmanuel Nwanze, Holly Thompson, Biggs Chris, Jamie Clayton, Lauren Goodger, Rebecca Gormley, Yazmin Oukhellou, Scott Timlin and Eva Zapico
The defendants will appear before Westminster Magistrates’ Court on 13 June.
Advisers will no doubt welcome the action.
With last week’s story examining the dominance of the top six platforms, this is certainly interesting.
Timeline’s CEO Abraham Okusanya has unveiled details of a new platform, simply called Platform 3.0, powered by Seccl.
Industry experts are still going back and forth with HMRC about details around the abolition of the lifetime allowance, "and not necessarily getting the answers we're expecting", says SJP's Claire Trott in this FTAdviser interview.
Schroders head of UK policy Jeremy Gordon, writing in Citywire New Model Adviser, says the regulator’s work on ongoing advice fees will expand beyond the largest firms.
The wasted cost of inefficient letters of authority (LoA) processes are currently £442m a year and is “extremely frustrating” for advisers due to “significant delays and errors”, according to The Pension Lab, as Professional Adviser reports.
Writing in Money Marketing, Greg Moss, founder of Eleven.2 Financial Planning is nonplussed at fellow advisers’ failure over risk planning adding that: “If you don’t use cashflow planning, then you should probably stop advising on retirement income.”
