The Financial Conduct Authority reported that seven social media influencers have been sentenced at Southwark Crown Court for promoting an unauthorised foreign exchange trading scheme, after pleading guilty to one count of issuing unauthorised financial promotions. The defendants were Biggs Chris, Jamie Clayton, Lauren Goodger, Rebecca Gormley, Yazmin Oukhellou, Scott Timlin and Eva Zapico. The court imposed fines and costs on five individuals, with conditional or absolute discharges for two: Lauren Goodger was fined GBP 3,750 and ordered to pay costs of GBP 5,778.18; Biggs Chris was fined GBP 600 and ordered to pay costs of GBP 1,000; Jamie Clayton was fined GBP 820 and ordered to pay costs of GBP 1,000; Rebecca Gormley received a conditional discharge and was ordered to pay costs of GBP 2,866.42; Yazmin Oukhellou was fined GBP 974 and ordered to pay costs of GBP 1,000; Scott Timlin was fined GBP 938 and ordered to pay costs of GBP 1,000; and Eva Zapico received an absolute discharge and was ordered to pay costs of GBP 1,770.44. The FCA noted that the individuals’ Instagram accounts had a combined following of 4.5 million and referenced its finalised guidance on financial promotions on social media clarifying expectations for firms and influencers.
Financial Conduct Authority 2026-02-20
Financial Conduct Authority sees seven influencers sentenced for issuing unauthorised financial promotions
The Financial Conduct Authority announced that seven social media influencers were sentenced at Southwark Crown Court for promoting an unauthorised foreign exchange trading scheme. Fines and costs were imposed on five individuals, while two received conditional or absolute discharges. The FCA highlighted the influencers' significant Instagram following and referenced its guidance on financial promotions on social media.