TAIPEI (Taiwan News) — A new directive from the China Securities Regulatory Commission (CSRC) has ordered influencers to avoid advising particular stocks and wearing strange clothing when livestreaming.
The regulatory body told influencers they should remain “objective and professional” on camera and refrain from cursing, wearing strange clothing, or streaming from exotic locations.
The CSRC said these commentators should discuss overall market and macro-economic forces rather than recommend individual stocks, according to a report by Caixin Global.
Livestreaming became widespread among finance firms last year as an effective way to maintain sales operations during the COVID-19 pandemic. Some online influencers have acted as affiliate marketers, bringing in new clients to brokerages and investment funds.
Yet according to Chinese law, securities companies cannot outsource client onboarding to individuals who are not employees or who are not certified as practicing brokers.
The CSRC now says it will throw the book at anyone caught doing what it deems insider trading, vowing to enforce the law “with no tolerance.”



