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Showing 11 - 20 of 27 results for "Finfluencer"

Finfluencer barred from running online advice business

CHLOE WALKER  |  FRIDAY, 14 APR 2023
... Scholz, otherwise known as ASX Wolf, cannot continue his online business, with permanent injunctions placed on the finfluencer. Late last year, the Court found Scholz had contravened s911A of the Corporations Act by carrying on an unlicensed financial ...

Taskforce exposes rising dangers for retail investors

ANDREW MCKEAN  |  FRIDAY, 31 MAR 2023
... the report highlighted an exacerbation of retail conduct vulnerabilities due to inappropriate online marketing and "finfluencer" activities. Greenwashing also poses an increasing risk, eroding trust in sustainable finance products and leaving investors ...

ACCC blitzes social media influencers

ANDREW MCKEAN  |  MONDAY, 30 JAN 2023
The Australian Competition and Consumer Commission (ACCC) has targeted social media influencers who use misleading testimonials and endorsements. The ACCC said it's "sweeping" more than 100 social media influencers from over 150 consumer tip-offs for ...

Federal Court finds against finfluencer

JAMIE WILLIAMSON  |  MONDAY, 9 JAN 2023
The Federal Court determined Tyson Scholz, known as ASX Wolf, was running an unlicensed financial services business for over a year, including providing courses on share trading and recommending stocks on Instagram. The court handed its decision down ...

Regulators to face committee scrutiny

JAMIE WILLIAMSON  |  MONDAY, 10 OCT 2022
The ACCC, APRA and ASIC will front the House of Representatives Standing Committee on Economics tomorrow to discuss super fund underperformance, greenwashing and the rise of finfluencers. In what will be the committee's first public hearings into the ...

ASIC research guides retail investment regulations

ANDREW MCKEAN  |  THURSDAY, 11 AUG 2022
ASIC has released a retail investor research report which captures motivations, attitudes and behaviours, helping the regulator determine where its efforts should be concentrated. The report offers a point-in-time snapshot of investor behaviour during ...

Equity Story plans to throw finfluencers a lifeline

CASSANDRA BALDINI  |  MONDAY, 11 JUL 2022
Equity Story Group has acquired news and arts media company A Rich Life, and plans to throw 'finfluencers' a lifeline after ASIC's recent crackdown by giving them the option of continuing to influence with the coverage of an AFSL. A Rich ...

We knew people would leave the advice industry: Hume

ANDREW MCKEAN  |  FRIDAY, 13 MAY 2022
... obvious difference between finfluencers and financial advice. Hume said she is glad that ASIC had cracked down on finfluencer advice particularly in instances where commissions were accepted, or products and services were promoted. At the same time ...

Research reveals investment differentiators between sexes

CHLOE WALKER  |  WEDNESDAY, 23 MAR 2022
... other hand, the research indicates that men, particularly young men, are four times more likely than women to follow "finfluencer" advice, citing "whatever's trending on social media" as a priority when making investment decisions. Risk factor was the ...

ASIC issues warning to finfluencers

JAMIE WILLIAMSON  |  MONDAY, 21 MAR 2022
... online. It also found that 64% of young people changed at least one of their financial behaviours after following a finfluencer. Despite this, and on the same day Longo aired his concerns about finfluencers, minister for financial services Jane Hume ...