09.27.24

Influencers, Crypto and Warnings From FINRA's Advertising Conference

by: Emile Hallez

At last week's Advertising Regulatory Conference hosted by the Financial Industry Regulatory Authority (FINRA), staff pointed to widespread failures they uncovered during a sweep on firms’ uses of social media influencers. Among 15 firms and 1,300 communications the agency examined, 70% were out of compliance, said Stephanie Gregory, associate director of the complex review team in FINRA's advertising regulation department. A common theme was videos that touted risky products or investment strategies ranging from crypto assets to margin trading, she added.

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