New Update! Meta Mandates Ads Verification for Finfluencers

Meta has assigned its advertisers to verify before posting advertisements for all securities and investment-related ads on its platforms from July 31.

The Securities and Exchange Board of India (SEBI) is connecting with social media platforms, such as Telegram and YouTube, along with Meta, to check the activities of unregistered investment advisors or financial influencers. SEBI directs them to stop sharing the content by unregistered financial advisors and finfluencers.

These platforms are also working on the steps given by SEBI to take down the content shared by those who are not registered with the regulator. and to verify the content before posting it on respective platforms.

The source said, “We are in talks with more of these social media platforms and they are all cooperating. We have asked them to follow with our association regulations in order to gain a competitive advantage.”

Earlier Order:

Earlier SEBI told the regulated authorities not to associate with the unregistered finfluencers for any transactions. These transactions include:

• Financial transaction
• Client’s referral
• Interaction of the IT system and others

The above-mentioned applications alert their users about investment-related advertisements.

On June 26, terms of service were announced by Meta and told its advertisers to verify before posting advertisements for all securities and investment-related ads on its platforms from July 31.

SEBI said that only 2 percent of influencers are registered with the SEBI, increasing its concerns about misinformation.