Finfluencers Attracting Finra’s Attention
The Financial Industry Regulatory Authority is paying close attention to the role played by financial influencers, or finfluencers, according to the self-regulator’s executive vice president of member supervision.
“The finfluencer … [w]as something we looked at, and I think there’s not a lot of compliance professionals that are dug in on the TikTok world,” Greg Ruppert said Wednesday at the 2022 Finra Annual Conference.
“So, from that perspective, let’s see what we’re seeing out there from the TikTok financial influencers, hence the ‘finfluencers,’ but it’s also Instagram,” he said during a Q&A session with Finra senior executives.
“It could be on any social media sites,” he added.
