Have you ever observed that after viewing just a few investment-related videos or posts—whether on stocks or virtual assets—your social media feed quickly fills with content touting “insider secrets to wealth,” “expert crypto advice,” or “top investment tips”? When you encounter finfluencers with massive followings and charismatic, persuasive delivery, do you find yourself trusting them or even considering acting on their investment suggestions?

In a March 2026 interview, Elmond Yu, Director of Enforcement at the SFC, urged the public to exercise caution when considering investment advice from finfluencers. Whether finfluencers fall under SFC regulation depends on the nature and content of their advice. If their activities include regulated activities, such as offering investment advice or promoting investment products, they are required to obtain an SFC licence. Unlicensed finfluencers may not adhere to SFC rules and standards, putting investors at considerable risk. Potential dangers include the promotion of unsuitable investment products, dissemination of misleading information, failure to disclose conflict of interest, or even manipulation by fraudsters.

Keep the following three key points in mind to evaluate the advice of finfluencers:

• Use the SFC’s “Public Register of Licensed Persons and Registered Institutions” to confirm whether a finfluencer is properly licensed. Scrutinize their investment opinions and verify the information they provide.
• Just because a celebrity or finfluencer endorses an investment does not mean it is safe or trustworthy as celebrity or finfluencer could also be used by scammers to lure victims.
• Always conduct comprehensive research before making investment decisions. Make sure you fully understand the product’s features and risks, and assess your own risk tolerance.

Maintain independent judgement and do not easily trust others’ recommendations or follow the crowd. Exercise heightened caution when presented with investment opportunities that promise “high returns with low risk,” and remain vigilant to protect yourself from potential scams.