“I am neither hero nor villain,” wrote Neil Woodford for the launch of his new website Woodford Views, less than a week after the FCA issued him with a warning notice.

This week's FCA’s crackdown on rule-breaking social media posts and so-called ‘finfluencers’ is long overdue, according to Rosie Hooper, chartered financial adviser at Quilter.

The Financial Conduct Authority has outlined new guidance proposals aimed at combatting illegal and non-compliant social media ads and promotions and the potential damage from some ‘finfluencers.’

The FCA has done a pretty good job in cracking down recently on scams and dodgy financial promotions, stung into action by some major failures over the last few years.