Regulatory Alerts2026-04-24
ASIC issues warnings to finfluencers and reminds licensees of supervisory duties
The Australian Securities and Investments Commission has issued warning notices to four social media influencers suspected of providing unlicensed financial advice and commenced reviews of Australian Financial Services licensees supervising fifteen influencers. This enforcement action is part of a coordinated global crackdown involving 17 international regulators to disrupt unlawful online financial promotion and protect consumers, particularly Gen Z, from misleading content. ASIC reiterated that licensees remain fully liable for the conduct of their authorized representatives and must implement active supervision arrangements to ensure compliance with financial services laws.
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