Europe's Fragmented Approach to Finfluencer Regulation

Financial influencers, or 'finfluencers', have become a structural feature of Europe's digital financial ecosystem. They promote investment products, trading strategies, and financial lifestyles to millions of followers across borders, often operating simultaneously in multiple Member States. Yet, despite the inherently cross-border nature of their activities, Europe's regulatory response remains deeply fragmented. Rather than a coherent EU framework, finfluencers are subject to a complex hotchpotch of EU law, national legislation, enforcement practices, platform rules, and private contractual arrangements. This fragmented approach not only undermines consumer protection but also risks distorting the EU internal market.