Hong Kong SFC considers strengthening regulation of financial KOLs, requiring adherence to standards when using digital platforms for promotion

TechFlow, September 17 — According to reports from the Hong Kong Economic Times, the Securities and Futures Commission (SFC) is planning to issue guidelines to licensed corporations on standards for hiring financial KOLs and using digital platforms for promotion. The SFC is currently conducting informal oral consultations with the industry. It is considering tightening compliance requirements for licensed firms when engaging financial KOLs, including requiring brokers to conduct due diligence on KOLs—assessing their background, reputation, and experience—and continuously monitoring their activities to ensure content is accurate and not misleading, as well as implementing measures to identify potential market manipulation.