The Central Bank of Russia has published a consultation paper on regulating financial influencers, asking whether a formal register is needed and what qualification requirements and liability should apply to the information finfluencers disseminate. The paper cites rapid growth in influencer activity and concerns that retail financial decisions increasingly depend on social media recommendations from individuals who may lack expertise, blur advertising and personal opinion, or omit key information such as risks when describing complex products. It also references detected attempts to manipulate stock prices via Telegram channels encouraging users to buy or sell securities. Proposed measures include labelling finfluencer content so audiences can identify when information is advertising placed by a financial institution, alongside establishing criteria for finfluencer activity and considering liability for content quality and potential harm to subscribers. Comments, answers, and suggestions are invited through 30 April 2026.
Central Bank of Russia 2026-02-17
Central Bank of Russia consults on a register, qualification criteria and content labelling for financial influencers
The Central Bank of Russia issued a consultation paper on regulating financial influencers, exploring a formal register and qualification requirements. It highlights concerns over social media's impact on retail financial decisions and potential stock price manipulation via Telegram. Proposed measures include content labelling to distinguish advertising and criteria for influencer activity, with considerations for liability regarding content quality and subscriber harm.