Online investment advice: what are the limits for finfluencers?
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Interest rates are going down and it even seems like we will have to pay for savings. Investing and investing in crypto therefore seems increasingly attractive. This also brings the finfluencers who are all too happy to give advice on social mia and via YouTube. They are not a financial institution or official advisor. How far can they go?
Investment advice is subject to rules
No one is allow to give investment advice just like that. A license from the AFM is requir for that. Of course, regular whatsapp number list advice during circle birthdays falls outside that. If you give investment advice to a ‘client’, you suddenly fall under the supervision of the AFM. But when does it go from ‘circle birthday advice’ to advice to a client? The AFM is quite strict about that. If there is a commercial interest behind it, they already see it as a situation in which advice can be given to a client.
The advice must also be personal. So focus on one or a few people and their specific situation. This can be solicit or unsolicit.
Also be careful with investment recommendations
Unlike investment advice, an investment recommendation is much more general and not aim at a specific person. A recommendation is about a strategy on a financial instrument.
This may soon be the case when you want to tell something about investing. Fortunately, this is not prohibit or connect to a permit. In principle, anyone may make such a recommendation, when certain conditions are met.
Objective and substantiat
Actually, the rules about recommendations aren’t even that exciting. For most people, it will probably sound very logical:
A recommendation must be carefully
The information must be objective
Interests must be declar
For recommendations and other financial messages in the mia, freom of the press applies. But even then, care must be taken. Are you involv in a financial search engine optimization mails institution or financial product that the information is about, which means you could potentially benefit from it? Then that extra freom does not apply. Of course, that also applies in addition to these popular hashtags you want to mislead the market or influence supply and demand with such a statement.