<ul><li>The Monetary Authority of Singapore (MAS) received fewer than five complaints annually over the past five years regarding online 'finfluencers.'</li><li>Complaints mostly concerned individuals who did not provide financial advice and were not regulated by MAS.</li><li>Financial institutions using finfluencers for advertising must ensure clear and balanced presentation of information, including key features and risks.</li><li>Finfluencers providing financial advice must be licensed under the Financial Advisers Act.</li></ul>

‘Finfluencers’ Must Be Licensed When Providing Financial Advice, Says MAS

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