In recent years, the use of social media has become increasingly popular among businesses and individuals alike. As such, the Financial Conduct Authority (FCA) has recently published guidelines for the use of memes and finfluencers on social media.

Memes are a form of digital communication that often use humour to convey a message. They are often used to spread information quickly and easily, making them a popular tool for businesses. However, the FCA has warned that memes should not be used to promote financial products or services. This is because they can be easily misinterpreted and may contain inaccurate information.

Finfluencers are individuals who use social media to promote financial products or services. The FCA has issued guidelines for the use of finfluencers on social media, including the need for them to disclose any commercial relationships they have with the products or services they are promoting. They must also ensure that any advice they provide is accurate and up-to-date.

The FCA has also warned against the use of ‘clickbait’, which is when a post or advertisement is designed to attract attention by promising something that it does not deliver. This can be misleading and could lead to customers making decisions based on inaccurate information.

Overall, the FCA’s guidelines are designed to ensure that businesses and individuals using social media are aware of the risks associated with using memes and finfluencers. It is important that businesses and individuals follow these guidelines in order to protect customers from being misled or taken advantage of.