Social media finance influencers must follow SC investment advice guidelines
MCCA chairman Datuk Ahmad Noordin Ismail said financial influencers on social media must comply with the Securities Commission's Guidelines on the Provision of Investment Advice. He stressed that disclaimers such as 'this is not financial advice' do not exempt them from licensing requirements under the Capital Markets and Services Act 2007, with fines of up to RM10 million or 10 years' jail.