Regulatory Alerts2025-12-11
Joint CSA and CIRO Staff Notice 31-369: Guidance on Securities Legislation Application to Finfluencer Activity
The Canadian Securities Administrators and CIRO issued this notice to clarify how existing securities laws apply to social media financial influencers. Finfluencers providing investment advice for a business purpose must register unless they qualify for the general advice exemption, which requires clear and conspicuous disclosure of any financial interests. The guidance warns that paid promotion of securities, market manipulation, and misrepresentations remain prohibited and subject to enforcement actions regardless of registration status.
Share