The court cases brought by the FCA against the 'finfluencers' accused of issuing unauthorised financial promotions have encountered long delays due to issues with court availability.

Trial dates for the finfluencers have been fixed for 1 February 2027 and 15 March 2027 at Southwark Crown Court this week.

The finfluencers were charged in May meaning a 33 month delay before their cases are heard.

The FCA said the long wait for trial dates was due to a high volume of cases awaiting trial, with these dates being the earliest the Court could accommodate.

At a plea and trail preparation hearing on 11 July at Southwark Crown Court, Holly Thompson, Biggs Chris, Jamie Clayton, Lauren Goodger, Rebecca Gormley, Yazmin Oukhellou and Scott Timlin all pleaded not guilty to one count of issuing unauthorised communications of financial promotions.

Emmanuel Nwanze pleaded not guilty to providing advice on buying and selling contracts for difference (CFDs) while unauthorised to do so and one count of unauthorised communications of financial promotions.

Eva Zapico did not enter a plea at this time. A further plea hearing for her case was fixed for 26 September 2024.

The regulator first brought charges against the nine in relation to an unauthorised investment scheme promoted on social media in May.

Some of those charged are understood to be well known figures from social media and have appeared in TV shows such as Love Island. The combined following of their Instagram accounts was over 4.5m.

The finfluencer trials are not the only FCA’s legal cases to face delays due to court availability.

The FCA has charged three people with fraud for their alleged involvement in a high-risk trading scheme targeting pension savers.

Following a hearing at Southwark Crown Court on 5 July, a trial date has been fixed for 1 February 2027, again meaning a long delay. The total loss to victims was over £8m.

Kristofer McGuire, Keith Williamson and Karla Walker were charged with fraud by false representation and fraudulent trading after they persuaded pension savers to invest in CFDs.

Between 1 January 2015 and 28 February 2023 victims' pensions were allegedly traded to generate large commissions for those running the scheme, with the victims’ pension funds allegedly almost entirely lost.

The regulator also alleges that the three made false statements to a trading platform that their clients were professional investors.

Mr Williamson and Mr McGuire are accused of fraudulent trading and Mr McGuire faces five further counts of fraud by false representation.