The Financial Conduct Authority has authorised criminal proceedings against Charles Hunter, Kayan Kalipha and Luke Desmaris, who have been charged with an offence relating to their social media posts. The three defendants have appeared in court and, at a plea and trial preparation hearing at Southwark Crown Court on 8 October 2025, each pleaded not guilty. The FCA alleges the individuals, often referred to as “finfluencers”, encouraged social media followers to invest in foreign exchange trading through high-risk contracts for difference without having authorisation to promote those investments. Each is charged with one count of communicating an invitation to engage in investment activity, contrary to section 21(1) of the Financial Services and Markets Act 2000, which carries a penalty on indictment of a fine and/or up to two years’ imprisonment. The case sits within the FCA’s wider enforcement action on unlawful finfluencer promotions, following a coordinated international operation announced in June 2025 involving nine regulators across six countries that led to arrests, interviews, cease and desist letters and over 650 takedown requests. Final hearings at Southwark Crown Court have been scheduled for 6 September 2027 (Hunter), 25 October 2027 (Kalipha) and 29 November 2027 (Desmaris).
Financial Conduct Authority 2025-10-13
Financial Conduct Authority charges three finfluencers over unauthorised social media promotions of forex CFDs
The Financial Conduct Authority (FCA) has initiated criminal proceedings against Charles Hunter, Kayan Kalipha, and Luke Desmaris for allegedly promoting high-risk foreign exchange trading without authorization. The defendants, known as "finfluencers," pleaded not guilty to charges under the Financial Services and Markets Act 2000. This action is part of the FCA's broader crackdown on unlawful finfluencer promotions, following a coordinated operation with nine regulators.