Alvin Tan on complaints against ‘finfluencers’
The Monetary Authority of Singapore (MAS) received eight complaints against financial influencers or 'finfluencers' in the first quarter of 2025. Most were related to comments made by two finfluencers who shared their reasons for liquidating their investments from an investment platform. The figure is an increase from the average of five complaints a year in the past five years and MAS is monitoring this closely, said MAS Board Member Alvin Tan. In parliament on Tuesday (Apr 8), Mr Tan said finfluencers must be responsible when creating awareness of financial products and services and cannot provide financial advice, which is a regulated activity. They also must not make false or misleading statements on any capital market products. He was replying to MPs' questions.
The Monetary Authority of Singapore (MAS) received eight complaints against financial influencers or 'finfluencers' in the first quarter of 2025. Most were related to comments made by two finfluencers who shared their reasons for liquidating their investments from an investment platform. The figure is an increase from the average of five complaints a year in the past five years and MAS is monitoring this closely, said MAS Board Member Alvin Tan. In parliament on Tuesday (Apr 8), Mr Tan said finfluencers must be responsible when creating awareness of financial products and services and cannot provide financial advice, which is a regulated activity. They also must not make false or misleading statements on any capital market products. He was replying to MPs' questions.
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