Britain's financial watchdog set out guidelines on Tuesday to stop misleading adverts on social media, and warned "influencers" that promoting a financial product without regulatory approval could be a criminal office.

"Consumers need to be alert to dubious adverts and scams online, but it is important that influencers ensure they're on the right side of the rules and consider what would happen to their own reputations if they're found to promote products illegally," the Financial Conduct Authority said in a statement. (Reporting by Huw Jones; Editing by Alex Richardson)