The China Securities Regulatory Commission, together with the State Administration of Financial Regulation, the Cyberspace Administration of China, the Ministry of Public Security and the People’s Bank of China, issued a joint risk warning on illegal “agency rights protection” content spread via short videos and live broadcasts. The authorities flagged misleading narratives around “full surrender”, “debt clearance” and “investment advisory refund” that induce financial consumers and investors to hand over their cases to third parties, pay high fees and suffer harm to their rights and interests. The warning highlights common tactics including false claims that regulators have introduced “new policies” enabling surrender, debt replacement, credit “laundering” or refund channels within a set timeframe, including misquoting or misinterpreting official rules and splicing marketing content with regulator imagery. Other formats include claims that banks or other financial institutions have opened “channels” for full surrender, deferred repayment or “national debt clearance”, and the use of purported “law firms” or “professional legal consultation” to promote step-by-step “rights protection skills”, including pressuring institutions through stalking and litigation or inciting consumers to submit false supporting materials. The agencies stressed that claims such as “full surrender”, “loans/credit cards do not need to be repaid”, “debt negotiation”, “debt replacement”, “credit laundering” and “full refunds of investment advisory fees” are false and inconsistent with financial laws and regulations including the Insurance Law, Commercial Banking Law, Securities Law and the Regulations on the Administration of the Credit Reporting Industry. Consumers and investors were urged to use official dispute channels, mediation or legal proceedings, and to report suspected violations to the relevant online platforms or to financial supervision, cyberspace and public security authorities, noting that malicious debt evasion and false complaints may amount to criminal conduct in serious cases.
China Securities Regulatory Commission 2026-02-06
China Securities Regulatory Commission and four agencies warn against illegal agency rights protection short video and livestream scams
The China Securities Regulatory Commission and other authorities warned against misleading "agency rights protection" content in short videos and live broadcasts, falsely claiming new policies allow debt clearance and investment advisory refunds. They emphasize these claims contradict financial laws and urge consumers to use official dispute channels, noting malicious debt evasion and false complaints could lead to criminal charges.