Investing Updates: MAS to warn 5 content creators in S’pore who may have given financial advice without a licence

Source:

https://www.straitstimes.com/business/companies-markets/mas-to-warn-5-content-creators-in-spore-who-may-have-given-financial-advice-without-a-licence

ChatGPT:

The Monetary Authority of Singapore (MAS) will issue advisory letters to five content creators suspected of offering unlicensed financial advice, marking the first such action against online “finfluencers.” They have been told to adjust their practices or risk enforcement under the Financial Advisers Act, which carries penalties of up to $75,000 in fines or three years’ jail.

The move follows MAS’ release of new guidelines on Sept 25, aimed at promoting responsible online financial content. These guidelines stress encouraging informed decision-making, such as understanding risk tolerance, conducting independent research, and seeking licensed advice. Content creators are urged to highlight budgeting, caution against overspending, and disclose risks as well as rewards. They should avoid exploiting fear of missing out and must prioritize followers’ financial well-being.

MAS clarified that disclaimers like “this is not financial advice” do not remove liability. A licence may be required when recommending products, tailoring advice to individuals, or facilitating trades. Creators are advised to vet collaborations by checking MAS’ Financial Institutions Directory and avoiding entities on its Investor Alert List. Sponsored content must also be disclosed.

The regulator said promotional content must comply with the Singapore Code of Advertising Practice, and financial institutions must ensure their marketing is professional and accurate. Complaints against finfluencers have risen, with eight lodged in 2025 as of April, compared with an average of five annually in previous years.

Industry players welcomed the guidelines. Executives from Beansprout, The Weeblings, and The Financial Coconut said clearer standards will raise industry credibility, protect consumers, and build trust, though some cautioned that even regulated advice has limits.

Opinion:

Don’t take my word for it! 😂
YouTube feels overloaded with ads and flashy clickbait — big headlines, big reactions everywhere. 

I get it, that’s how creators drive views and income. Still, I wish there were a better, less in-your-face way to do it 😛