The Eastern Magistrates’ Court in Hong Kong today (Friday) handed the first custodial sentence against a finfluencer, Chau Pak Yin, also known as Chau Kin Hei, for providing unlicensed investment advice through a paid Telegram chat group. The criminal prosecution was brought by the Securities and Futures Commission. Join IG, CMC, and Robinhood at London’s…
The UK’s Financial Conduct Authority (FCA) has revealed that it made three arrests, launched criminal proceedings against three individuals, and issued seven cease-and-desist letters as part of its efforts to tackle “rogue finfluencers.” The regulator also published 50 warning alerts and invited four finfluencers for interviews. FCA Takes the Lead The figures were released as…
1. ESMA Is Interested in Retail Traders Habits ESMA’s call for feedback on how retail investors engage with investment services—and whether regulatory or non-regulatory barriers may be discouraging participation in capital markets—is unlikely to set pulses racing. After all, this is just the latest in a long line of similar consultations and is seen in…