MPs demand Meta’s record on removing harmful content. An influential group of MPs has called for Meta to disclose its track record in responding to requests for the removal of damaging content from financial influencers, following the Financial Conduct Authority’s (FCA) identification of the Facebook and Instagram owner as the worst offender in the sector.
Meg Hillier, Chair of the Treasury Committee, sent a letter to Meta earlier this week after the City watchdog informed her panel it had taken Meta “up to six weeks” to act on requests to remove harmful content. The letter quotes an FCA evidence session in April, raising concerns about the time taken by the Zuckerberg-owned group to remove alerts on “individual influencers”.
“In October last year, when we issued a number of alerts on individual influencers… it took Meta up to six weeks to act on those requests from the date a warning was issued,” the letter states. “Other platforms are more responsive,” added the FCA’s Lucy Castledine.
A month after the hearing, the committee demands an explanation from Meta for its delays in responding to FCA requests to remove harmful content from finfluencers. The committee also asked Meta to provide the total number of days these posts remained online after removal requests. A Meta spokeswoman described the delay cited in Castledine’s evidence as an “isolated incident” and stated it had been rectified, ensuring other FCA reports were promptly processed.
The committee’s letter coincides with the City watchdog’s announcement of a separate crackdown on so-called finfluencers—individuals who promote investments and get-rich-quick schemes on social media. The FCA led an international operation addressing unregulated financial advice in collaboration with counterparts from countries like Australia, Canada, and the UAE. The investigation resulted in the arrest of three individuals in the UK, with four others interviewed.
“Our message to finfluencers is loud and clear,” said Steve Smart, the FCA’s joint executive director of enforcement and market oversight. He warned finfluencers to act responsibly and promote only authorised financial products or face consequences. The cross-border investigation is evidence of the FCA’s ongoing effort to combat harmful financial content online. Last year, it charged several high-profile reality TV stars and social media influencers for promoting an unauthorised trading scheme. The FCA alleged Emmanuel Nwanze and Holly Thompson used the Meta-owned Instagram account @holly_fxtrends to promote investing in ‘contracts for difference’.
