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Should the UK follow the UAE's lead on licensing finfluencers?

ended 03. June 2025

The United Arab Emirates now requires all social media influencers talking about financial matters on TikTok, YouTube, Instagram et al to take out a licence with its regulator, the Securities and Commodities Authority. In an announcement, the regulator said: “The SCA has officially launched the region’s first “Finfluencer” license - an innovative regulatory milestone aimed at formalizing and supervising digital financial content. This ground-breaking initiative seeks to establish a clear governance framework for individuals offering investment analysis, recommendations, and financial promotions across digital platforms. This initiative is designed to enhance investor protection in the UAE.” With the profilferation of incorrect or frankly reckless financial content on social media, Newspage asked financial services and property market experts whether the UK should do the same. Views, below.

 

6 responses from the Newspage community

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Scott GallacherVerified
Director at Rowley Turton
Given the sheer volume of misinformation from so-called influencers, there’s a clear case for regulation. But let’s be honest: any move will be blocked by “freedom of speech” arguments, with Trump and the US in particular supposedly defending free speech but really just protecting their tech giants. The US is even threatening visa bans for foreign officials they claim are censoring American voices online, so the pressure is very real. Let’s not forget, the UK government just blocked a Lords amendment that would have forced AI firms to declare what copyrighted content they used—so clearly, they're not eager to upset the US and their tech platforms either. And even with the much-hyped Online Safety Act now in force, Facebook is still riddled with scam adverts. I've personally reported several, yet they remain active. The reality? It’s potentially a good idea that’s never going to happen. Trump would rant, rave and bully the UK to protect his mate Elon’s investment in X.
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Ben PerksVerified
Managing Director at Orchard Financial Advisers
This is a no brainer. Professionals in the industry are regulated within an inch of their life and what we say in public is heavily scrutinised. But an influencer can spout any nonsense they want, mislead thousands and there are no repercussions at all. It’s madness, but most of all it’s extremely dangerous. The FCA need to get control of this quickly.
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Wes WilkesVerified
CEO at IronMarket Wealth
It's startling to see that the UK, possibly the most regulated country in the western world, is once again miles behind more innovative nations. This is a brilliant initiative and the UK would do well to follow suit.
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David BelleVerified
Founder and Trader at Fink Money
100% yes. As the FCA advised only a few weeks ago, they want providers to be working with 'good' finfluencers to drive out the bad. The issue currently is that regulation has to be provided at the firm level. For many finfluencers who have good ideas, who do things by the book, the firm level of regulation can be too expensive. An individual licence where a fully regulated entity can work with said finfluencer due to some level of exam approval (working within, say, a level 4 RDR compliance framework) could be a major step to promoting better outcomes and would provide individuals and firms with more clarity. The issue with the finfluencer world is that the general public is always going to search for the information they want, so will always fall into the hands of bad actors, and finfluencers are always going to finfluence. With this in mind, why not create the incentive to seperate the wheat from the chaff?
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Tony RedondoVerified
Founder at Cosmos Currency Exchange
There are two sides to this coin. On the one hand, licensing finfluencers would help protect consumers from bad advice, fill regulatory gaps and boost trust. On the other hand, the move risks stifling free speech, enforcement is tough (FCA struggles with crypto registrations) and existing rules may suffice. The solution may need to be nuanced. There should be strict licensing for those giving specific investment advice, but lighter oversight for educational content, and robust enforcement of existing FCA and ASA rules for disclosures.
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Kundan BhaduriVerified
Entrepreneur, Investor and Landlord at The Kushman Group
The UAE's bold move requiring financial influencers to obtain regulatory licenses reflects growing global concern about social media's Wild West approach to investment advice. With TikTok "finfluencers" pushing everything from cryptocurrency schemes to forex trading to impressionable audiences, the damage from unchecked financial misinformation multiplies daily. Recent FCA warnings about unlicensed crypto promotions and influencer-led pump-and-dump schemes expose regulatory gaps. While the UAE's Securities and Commodities Authority takes decisive action, Britain relies on reactive enforcement after damage occurs. A licensing system would create accountability before retail investors lose savings to Instagram gurus flashing Lamborghinis. Critics cry censorship, but we already license financial advisers — why should social media be exempt? The digital age demands digital-age protections.