The Ontario Securities Commission participated in the Global Week of Action Against Unlawful Finfluencers, a coordinated international enforcement initiative targeting unauthorised social media promoters who illegally tout financial products or services and publish misleading investing content. The exercise used measures including in-person warnings delivered with law enforcement, interviews, evidence gathering, educational outreach, and consumer awareness interventions aimed at deterring retail investors from acting on misleading online promotions. During the operation, the OSC reviewed 87 finfluencers and nine issuers that hired finfluencers for stock promotions, identifying a spectrum of information quality, including cases of investment advice provided without appropriate registration and misleading information, particularly in the crypto space. The work involved support from the Royal Canadian Mounted Police Integrated Market Enforcement Teams and was framed as building on the OSC’s own research into how finfluencer content affects retail investor attitudes and decisions.
Ontario Securities Commission 2025-06-06
Ontario Securities Commission joins global crackdown on unlawful finfluencers and reviews 87 finfluencers and nine issuers
The Ontario Securities Commission (OSC) joined the Global Week of Action Against Unlawful Finfluencers, targeting unauthorized social media promoters of financial products. The OSC reviewed 87 finfluencers and nine issuers, uncovering unregistered investment advice and misleading information, especially in the crypto sector. Supported by the Royal Canadian Mounted Police, the initiative included warnings, interviews, and educational outreach to deter retail investors from misleading promotions.