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Influencers do not have to be experts

Posted by M H on March 22, 2022 - 8:12pm


Influencers do not have to be experts !

Influencers - maybe a big number of them  on social networks

are giving advice without enough of experience and knowledge

In some fields it might be quite serious. But if somebody influences you in trying a new recipe

how to prepare some special soup - not much happens. If it is tasty you will cook it next

time if not .. never again - but you will not stay hungry for long and your stomach will survive it.

But ... in some other fields it can be critical.

Influencers in Australia risk jail for breaking finance tips rules - BBC News

Influencers in Australia face up to five years in jail if they break laws on financial advice, a new information sheet warns.

The Australian Securities and Investments Commission (ASIC) says they may need a licence to give such advice.

A 2021 ASIC survey suggested 33% of 18 to 21-year-olds follow financial influencers.

And it also found that 64% of young people in Australia changed a financial behaviour because of an influencer.

Surely it is not the case in Australia only.

The last paragraph of the BBC article says:

Spain's National Securities Market Commission also revealed plans for new rules for advertising crypto-assets, including promotions by social media influencers.

                smileyCaution mother of wisdom smiley

                                                                             Margaret        

 

M H Thank you, Adonel and Anthony, we have to be careful who is our adviser
April 12, 2022 at 9:42am
anthony hambrick wow great info did not know it was that bad
April 12, 2022 at 12:56am