City watchdog flags up platforms such as YouTube and TikTok in promoting investments to inexperienced consumers

The City regulator has warned social media sites that it may take action if they continue to promote risky and sometimes fraudulent investments to often inexperienced consumers.

The Financial Conduct Authority is concerned about the growing influence that sites such as YouTube, Instagram and TikTok are having on a new breed of mainly younger DIY investors, whom it believes are taking big financial risks when investing in cryptocurrencies, foreign exchange trading and other high-risk products.

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