Influencer Lucy Beck is to face trial over allegations she was involved in unauthorised financial promotions on social media after pleading not guilty at a court hearing yesterday.
The FCA has alleged that Ms Beck, 32, promoted buying and selling Foreign Exchange Contracts for Difference through social media accounts and websites, without being authorised to do so.
Promoting CFDs without authorisation from the City regulator is contrary to sections 21 and 25 of the Financial Services and Markets Act 2000.
On 30 July Ms Beck attended Southwark Crown Court for a hearing in relation to the alleged unauthorised promotions on social media. She entered a not guilty plea and her trial date has been set for 12 June 2028.
The FCA has released no details of Ms Beck’s social media posts.
The FCA said anyone who believes they may have suffered loss in relation to the matter is encouraged to contact the FCA consumer contact centre on 0800 111 6768.
The move is part of the regulator’s crackdown on social media influencers, or 'finfluencers', who allegedly push financial products without authorisation.
The FCA defines 'finfluencers' as social media personalities who use their platform to promote financial products and share insights and advice with their followers. It add that many financial social media content creators are acting legitimately and not breaking any laws.
However it says there are other finfluencers who tout products or services illegally and without authorisation through online videos and posts. They use the pretence of a lavish lifestyle, often falsely, to promote success.
Unrelated to the Lucy Beck case, three finfluencers face trial later this year, each individually charged with an offence relating to their social media posts.
The FCA said the individuals - Charles Hunter, Kayan Kalipha and Luke Desmaris - are alleged to have encouraged social media followers to invest in foreign exchange (forex or FX) trading through high-risk products known as Contracts for Difference, without having the authorisation to promote these investments.
The three separately pleaded not guilty at a hearing at Southwark Crown Court on 8 October 2025 at which time their trial dates were set. Charles Hunter will appear in court on 6 September 2027; Kayan Kalipha on 25 October; and Luke Desmaris on 29 November.