Staff reporter
Financial influencers present risks to retail investors and authorities should enhance their monitoring and detection efforts, says Jean-Paul Servais, chairman of the International Organization of Securities Commissions.
Finfluencers are those who use social media platforms to spread investment ideas, wealth management advice and personal finance guidance.
Speaking via video to the Asia Securities Industry and Financial Markets Association's annual conference in Hong Kong, Servais acknowledged that finfluencers help popularize financial topics and offer investors information. But he also emphasized the need for better detection of conflicts of interest and disclosure practices because of the potential risks they pose.
