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05.11 - 15:19
FCA to warn younger investors off cryptos and other high-risk products
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Social media hype and the gambling-like thrill of competing to get rich quick are driving younger investors to turn to cryptocurrencies, foreign exchange trading and other high-risk products, according to the City watchdog.
The Financial Conduct Authority said it was seeing more people chasing high returns and was concerned that many new investors were increasingly putting money into high-risk investments which may not be right for them.
To tackle the problem, the regulator has now launched an £11m campaign targeting inexperienced investors to help them understand the risks they are running.
Its warning comes amid the continuing boom in cryptocurrencies and in the wake of a frenzy of stock market trading linked to so-called “meme stocks” such
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