FCA consumer investment goals include communications and ‘finfluencer’ support

The Financial Conduct Authority (FCA) said it wanted investment firms to make better use of social media to combat scams and disinformation in its regulatory priorities report for consumer investments (pdf, 15pp/2.4mb) for 2026.

The new guidance, which replaces the FCA’s previous portfolio letters as a single destination for the body’s sector priorities and regulatory goals for the year, spelled out its ambitions for the next year and its expectations of firms.

Elizabeth Budd, a financial services regulation expert with Pinsent Masons, said the publication doubled down on the FCA’s commitment to smarter regulation of the sector.

“The regulator will expand dedicated supervisory contacts and will work towards being more risk based,” she said. “This means leaving those firms that are doing the right thing – or putting every effort into doing the right thing – and focussing on where the risk is the greatest.”

The priorities report confirmed the FCA’s focus on strengthening the investment opportunities in the UK for consumers who have yet to engage with the markets, and called on firms to provide clearer, jargon-free information to help them understand the benefits better, building confidence in the sector.

Strengthening its approach to financial crime – including working with communications regulator Ofcom to tackle online financial scams – is among the FCA’s regulatory targets for the year. It also intends to work to strengthen trust in the sector, by reviewing model portfolio service providers and assessing if the existing consumer duty rules remain appropriate.

Work such as the FCA’s ongoing consultations around AI, cryptoasset regulation, and senior managers and certification, is also highlighted in the report.

Speaking at the launch of the report, Lucy Castledine, the FCA’s director of consumer investments, said it was important the industry met consumers in the online spaces and social platforms where they were turning to the most for support.

“Social media is a major source of financial information for many, but we know the devastating impact that illegal influencers can have,” she warned.

“We have shown we’re prepared to take action – securing seven convictions earlier this year... However, legitimate influencers can and do play an important role in helping people manage their finances. We will collaborate with legitimate finfluencers to ensure online financial content is legal and compliant,” Castledine added.

Budd said this followed on from a concerted effort from the regulator to challenge misinformation among finfluencers in 2025.

“Having cracked down on finfluencers last year, it is notable the FCA recognises that there are genuine finfluencers who would benefit from support to ensure that their content is compliant with regulatory requirements,” she said.