ASIC said it is concerned that consumers could be harmed by finfluencers providing unauthorised financial product advice. - Unsplash via ST/ANN
CANBERRA: Australia's corporate regulator said on Thursday (June 12) it had issued warnings to a number of social media "finfluencers", accusing them of offering misleading financial advice and promoting high-risk investment products to their followers.
The Australian Securities and Investments Commission (ASIC) warned that the accounts often provided deceptive information and flagged it had sent notices to 18 social media "finfluencers" who were not licensed to provide financial advice.
