Social
Exclusive: FCA spent over £300k on 23 finfluencer-led campaigns
• 0 minute read
July 21, 2025
The Financial Conduct Authority (FCA) has spent a total of £313,534 on funding 23 finfluencer-fronted promotional campaigns since January 2023, according to a Freedom of Information Act (FoIA) response (FOI2025/00127) received by Compliance Corylated.
The UK regulator has been working “in partnership” with finfluencers on its InvestSmart, ScamSmart and loan fee fraud campaigns, as well as a one-off campaign to promote a checklist for finfluencers who endorse financial products.
“Influencers are a good channel for us to reach those that are harder to reach through traditional media,” said the FCA. “When creating content, they can help support our aims of empowering younger investors through education, tips and insight.”
The FCA has previously said the ScamSmart campaign costs it around £1.8 million per year.
‘Small portionʼ on talent
The FCA refused to disclose how much it paid individual finfluencers, claiming that only a “small portion” was for talent fees, with the rest covering creative agency and media costs. “This is because we consider that disclosure would be likely to prejudice the commercial interests of the influencer concerned, as well as those of the FCA,” it said in the FOI response.
However, the regulator revealed it had previously worked with the creative agency MHP Group from June 7, 2021, to October 31, 2023, before switching to M&C Saatchi in November 2023.
It also said it had paid agencies a total of £215,912 to “engage and manage influencers”, £70,480 of which went MHP and the remaining £145,972 to M&C Saatchi.
‘Strict’ checklist
The UK parliamentʼs Treasury Committee is increasingly concerned about the activities of finfluencers.
The FCA stressed it only worked with finfluencers who have “passed strict internal and external checks, considering suitability of content and messaging alignment to our campaign goals”.
The regulator added that finfluencers are contracted based on “the delivery of content pieces” rather than a set period of time. Typically, finfluencers are engaged to deliver one or two pieces of content at a time, a process that usually takes about 4 to 10 weeks, although this can vary.
Several paid finfluencers from the disclosed list describe themselves as “financial educators” and create short-form content based on their “investment experience”. Two finfluencers claimed to hold financial adviser qualifications, having obtained level four diplomas.
These campaigns are active across Instagram, TikTok and YouTube.
23 finfluencers who worked with the FCA
- Jatz Naran, Beth Fuller,
- Gabriel Nussbaum,
- Aash Thapa, Cazzatime,
- Charlotte Jessop,
- Oenone, Poku Banks,
- Timi Merriman-Johnson, Bola Sol,
- Mr Carrington,
- Sharon Gaffka,
- Anna Williamson,
- Hayley Quinn,
- Up the Gains,
- Mrs MummyPenny,
- Jay Benji, Clare Seal,
- Laura Ann Moore,
- The Humble Penny,
- Devamsha Gunput,
- Mia Rose Mcgrath,
- Meet the Thorpes
Finfluencer regime
The FCA took several enforcement-related actions on finfluencers in early June — as part of the global action week — which included three arrests, three initiated criminal proceedings and four interviews under caution.
Speaking at a parliamentary inquiry on June 10, FCA chair Ashley Alder said the FCA is ‘stepping upʼ its prosecution of fraudulent finfluencers, but the lengthy court trial remains a challenge. The first round of finfluencer court cases are scheduled to commence in 2027.
The International Organization of Securities Commissions (IOSCO) also conducted a survey and reported on regulatory weaknesses in the finfluencer framework in May.