On Sep. 29, 2025, MLY FIM issued the Guidance notes on MLY SCM's Guidelines on advertising for capital market products revised on Sep. 26, 2025, summary, and FAQ.
Revised notes clarify that advertisement messaging should be appropriate for intended investors, that any direct/indirect benefits received by advertisers should be disclosed.
Recommendations re the use of testimonials/endorsements by third-party providers, recommendation for advertisers to obtain a declaration of compliance from third-party providers, requirements for advertisement designed for targeted market segments.
Plus, insertion of a new guidance on the appropriate mode/channel of communication.
Document dated Sep. 26, 2025, received from MLY FIM Sep. 29, summarized Oct. 2.
On Mar. 27, MLY SCM revised guides on financial product advertising.
MLY SCM revised Guidelines on advertising for capital market products and related services, to reflect the growing prominence of social media and financial influencers.
Follows MLY SCM May 2020 issued guide on advertising for capital market, #77011.
Amendment Highlights
New requirements re financial influencers (finfluencers) who are not engaged as marketing agents yet on their own accord undertake advertising activities.
Finfluencers would be regarded as advertisers and will be subject to the guidelines.
Tighten requirements associated with advertisers’ obligations, in order to ensure the advertising activities conducted by their marketing agent comply with the guidelines.
Advertisers will otherwise be held accountable for the conduct of the marketing agent.
Bolster requirements relating to the use of social media.
Effectiveness
The revised Guidelines will come into effect on Nov. 1, 2025.
Sep. 2025 MLY FIM Guidance Notes
On Sep. 29, 2025, MLY FIM issued the Guidance notes on MLY SCM's Guidelines on advertising for capital market products revised on Sep. 26, 2025, summary, and FAQ.
Revised notes clarify that advertisement messaging should be appropriate for intended investors, that any direct/indirect benefits received by advertisers should be disclosed.
Recommendations re the use of testimonials/endorsements by third-party providers, recommendation for advertisers to obtain a declaration of compliance from third-party providers, requirements for advertisement designed for targeted market segments.
Plus, insertion of a new guidance on the appropriate mode/channel of communication.
Document dated Sep. 26, 2025, received from MLY FIM Sep. 29, summarized Oct. 2.
