As the new year has begun, ESMA just published the Finfluencer factsheet with tips for responsible promotion.
These are generally:
- be honest and clear;
- don't fake or mislead;
- don't advise;
- disclose any payments;
- be responsible and post responsibly.
For further details find the factsheet translated in all EEA languages on ESMA's website here.
This early publication already provides an outlook for 2026 and the upcoming regulator's focus on finfluencers.
It goes along with the informal deal EU lawmakers agreed on the Retail Investment Strategy (RIS) in late December 2025 regarding the protection of retail clients from false or misleading information on financial products (see details in the press release here). It is to be expected that the changes will facilitate the concept of financial literacy and financial education of retail clients. Also, the protection of young recipients of finfluencer content will explicitly be addressed.
In addition to these EU measures, BaFin has already acted in relation to finfluencers in Germany. BaFin updated the Guidance Notice on Investment Advisory in 2025 (see on BaFin's website here), particularly addressing the provision of potentially regulated activities by finfluencers.
The regulation of finfluencers will be a definite watch item for financial regulation in 2026.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
