Finfluencers under surveillance: AMF joins forces with regulators across the globe

MONTRÉAL, June 6, 2025 /CNW/ - From June 2 to 6, 2025, the Autorité des marchés financiers (AMF) participated in the Global Week of Action Against Unlawful Finfluencers by joining forces with several other regulators to prevent and counter unlawful activities engaged in by financial influencers (also known as "finfluencers").

The AMF wanted to achieve two objectives with the actions it carried out as part of this initiative: raise public awareness of the risks associated with the products and advice offered by some finfluencers, and draw finfluencers' attention to the potentially illegal aspects of their activities while contemplating targeted actions against specific finfluencers.

Consumers: Using critical thinking and acting with caution

The AMF released short videos featuring two of its investigators and published a new webpage urging consumers to exercise critical thinking and caution when considering financial products and advice offered on the Internet and social media. Their content focuses on how to identify potentially misleading or fraudulent information.

Finfluencers: Understanding and following the rules

The AMF's investigations team contacted a long list of Québec influencers representing a combined audience of over one million followers in order to raise their awareness, caution them or ask them to remove content from their posts. The AMF also published a webpage explaining what rules finfluencers needed to follow to comply with the law. In certain, more problematic cases, the AMF also opened investigations into illegal activities.

"Most finfluencers are acting within the framework of the law. Some, however, are touting products or services without being registered with the regulators. Others are making false promises of a lavish lifestyle or easy profits," said Éric Jacob, Executive Director, AMF Enforcement. "By joining forces with other regulators in Canada and globally, we clearly affirm our commitment to raising public awareness and combatting illegal conduct that puts consumers' finances at risk."

National and international cooperation

International relationships are vital to countering this problem. The AMF has worked closely with the following regulators on this initiative, which was led by the Financial Conduct Authority (FCA, United Kingdom):

• Alberta Securities Commission (ASC, Canada)
• Australian Securities and Investments Commission (ASIC, Australia);
• British Columbia Securities Commission (BCSC, Canada);
• Comisión Nacional del Mercado de Valores (CNMV, Spain);
• Ontario Securities Commission (OSC, Canada);
• Securities and Commodities Authority (SCA, United Arab Emirates);
• Securities & Futures Commission (SFC, Hong Kong).

About the Autorité des marchés financiers

In its role as regulator, the Autorité des marchés financiers acts to maintain a financial sector that is dynamic, operates with integrity and warrants public confidence. It regulates, in whole or in part, activities in the following sectors: insurance, deposit institutions, securities and derivatives, distribution of financial products and services, mortgage brokerage and credit assessment.

SOURCE Autorité des Marchés financiers