Voxly Vision
Does this apply to me?
Section 21 catches anyone who communicates a financial promotion in the course of business, including:
- Firms promoting investments, credit, insurance or crypto
- Influencers and 'finfluencers' promoting financial products
- Any business inviting people to engage in financial activity
It is enforced by the FCA. Unless you're authorised, or an authorised firm has approved your promotion, communicating it can be a criminal offence.
Key rules
The core restriction:
- Authorisation or approval required — only an FCA-authorised person can communicate a financial promotion, or it must be approved by one.
- Applies to all media — including social posts and videos.
- Criminal liability for breaching the restriction.
- Influencers are not exempt — promoting on a brand's behalf still counts.
Common breaches
Where it goes wrong:
- Finfluencer promotions for unauthorised schemes.
- Unapproved promotions communicated by non-authorised businesses.
- Promoting high-risk or unauthorised products without the required approvals.
How Voxly Vision checks an ad against this code
Every report shows an overall verdict, the rules at stake and a recommended fix. For financial brands and their creators, Voxly Vision flags content that could count as a financial promotion before it's posted.
Recent rulings
Seven Instagram finfluencers
Convicted · 20 Feb 2026
Seven influencers with 4.5 million combined followers pleaded guilty to promoting an unauthorised forex trading scheme. Fines, discharges and costs at Southwark Crown Court.
Sections: s.21 Restriction, s.25 Offence
Frequently asked questions
Can influencers promote financial products?
Only if they're FCA-authorised or the promotion is approved by an authorised firm. Otherwise it can be a criminal offence.
What is a financial promotion?
An invitation or inducement to engage in investment or other financial activity, communicated in the course of business.
Does section 21 apply to social media?
Yes. It applies across all media, including posts and videos.
Who enforces it?
The FCA, which has prosecuted finfluencers for unauthorised promotions.