The Bank of Russia has proposed discussing the creation of a register of financial influencers, introducing requirements for their qualifications, and establishing responsibility for the quality of published information. The proposals are outlined in the regulator's report, comments on which are accepted until April 30, 2026.
The report notes that a significant segment of influencers has formed in the financial market, as in other areas. For a mass audience, they often become the entry point into the topics of investing and managing personal funds.
According to the regulator, citizens who do not have the necessary knowledge often rely on recommendations in social networks when making financial decisions. At the same time, financial influencers may not have sufficient expertise. In addition, they often present advertising materials as personal opinions.
The Bank of Russia also identified cases of price manipulation in the stock market through Telegram channels. In such situations, the audience was encouraged to buy or sell securities.
Requirements for Financial Influencers and Labeling of Materials
The document emphasizes that financial influencers often talk about complex instruments in a simplified form. At the same time, they do not reflect all the essential information, including risks. This, according to the regulator, creates inflated expectations among investors.
Following such recommendations can lead to loss of savings and disappointment in investments and the financial industry. The report specifically states that influencers are currently not responsible for the quality of materials and are not required to compensate subscribers for losses if they incurred them by following advice or hidden advertising.
Among the proposed measures is the mandatory labeling of materials from financial influencers. This is necessary so that citizens understand whether the information is placed by order of a specific financial organization. In addition, the Bank of Russia proposes to establish criteria that the activities of financial influencers must meet.