SOCIAL media personalities who promise quick profits and effortless investment success are coming under heightened scrutiny from the Securities Commission Malaysia (SC), which has moved to curb the spread of unlicensed financial advice across digital platforms.
From TikTok tutorials to Instagram posts offering so-called wealth hacks, financial influencers have become a major source of guidance for Malaysians, particularly younger users seeking advice on money management and investing.
Yet many of these creators operate without the regulatory protections required of licensed professionals.
A new Guideline on Advertising for Capital Market Products and Related Services, in force since 1 November, now sets out explicit limits on what content creators may lawfully promote.
Under Malaysian law, the SC oversees all advertising linked to capital market products, including unit trusts, derivatives, trading platforms and certain forms of cryptocurrency content.
The regulator cautioned that creators may inadvertently stray into activities that demand licensing or registration, and the penalties for doing so are substantial.
“Think carefully before sharing your content. It could involve activities that require a licence or registration from the SC,” the commission said.
Unauthorised promotion of investment products is a serious offence. It carries fines of up to RM10 million, custodial sentences of up to ten years, or both.
The SC emphasised that these rules apply not only to professional advisers but to anyone disseminating investment-related material online, including influencers, affiliates and casual social media users.
Cryptocurrency-related content was singled out as a particular area of risk. The commission noted that posts encouraging trading or giving the impression of investment advice may fall squarely within its remit.
“Posting, sharing or promoting cryptocurrencies may require the SC’s authorisation if you are giving investment advice,” SC warned. - November 19, 2025
