The China Securities Regulatory Commission, together with the National Financial Regulatory Administration, the Cyberspace Administration of China, the Ministry of Public Security and the People's Bank of China, issued a joint risk warning about illegal "proxy rights protection" activity promoted through short-video and livestreaming platforms. The agencies said some organizations and individuals are spreading false claims about full insurance refunds, debt elimination, debt optimization, debt replacement, credit record cleansing and investment advisory fee refunds to induce financial consumers and investors to hire them, then charging high consultation or service fees under the guise of lawful rights protection. The warning says these practices spread misinformation, disrupt financial market order and harm consumers' and investors' lawful rights and interests. The agencies identified several common tactics. These include falsely claiming that regulators have introduced new policies, falsely presenting financial institutions as offering full insurance surrender or delayed repayment programs, posing as law firms or legal advisers while promoting fabricated success cases and so-called rights protection techniques, and using alarmist stock market messaging to attract investors. They said claims such as full insurance refunds, no need to repay loans or credit cards, debt negotiation or replacement, credit cleansing and full refunds of investment advisory fees are false and inconsistent with financial laws and regulations. Consumers and investors were urged to verify information through official regulator websites and official customer service channels, use formal complaint, mediation, litigation or arbitration channels for genuine disputes, and report suspected illegal content or criminal activity to platforms, financial regulators, cyberspace authorities or public security bodies.
China Securities Regulatory Commission2026-02-06
China Securities Regulatory Commission and four agencies warn against illegal proxy rights protection videos and livestreams
The China Securities Regulatory Commission joined four Chinese agencies in issuing a risk warning on illegal "proxy rights protection" content circulated through short-video and livestreaming platforms. The warning targets false claims on full insurance refunds, debt elimination, credit cleansing and investment advisory fee refunds used to sell paid rights protection services. Consumers and investors were told to verify information through official channels and report suspect content to platforms, regulators or police.