CNA - MAS issues advisory letters to five content creators who provided financial advice

[PaboJames]

If you watch YouTube videos regularly, you will notice some of those annoying "give me 5 minutes of your time and I will teach you ..." ads no more

Still got some London property rubbish. hate it

 

[stanlawj]

who in the right mind will believe these influencers ??

Certainly not you and me.

 

[gravity_infinity]

got some is teach u how to invest(gamble)

 

[kitsura]

got some is teach u how to invest(gamble)

Leverage by maxing out bank loan and all in on one asset class and double your money in 5 years (or kenna bankrupt and destitute).

 

[plpl20]

Did they put a disclaimer to say it's only their opinion and people should do their own research and exercise their own judgement at the start/end of their writing? Those smart ones will do this.

 

[TheDarkKnight]

Did they put a disclaimer to say it's only their opinion and people should do their own research and exercise their own judgement at the start/end of their writing? Those smart ones will do this.

MAS said in the article that putting such disclaimers don't resolve them of any responsibilities. Tio warning as well

 

[Icestillwater]

If you watch YouTube videos regularly, you will notice some of those annoying "give me 5 minutes of your time and I will teach you ..." ads no more

Wah, so long now ah… las time the Influenza only ask for 30 secs of your time

1 second I also dun wan to giv liao, still ask for 5 min

 

[plpl20]

MAS said in the article that putting such disclaimers don't resolve them of any responsibilities. Tio warning as well

This is only if they just state what they say is not financial advice:

From article:

Note: Simply disclaiming “this is not financial advice” does not absolve you from legal liabilities. If you are unsure, please consult the MAS Guidelines on Provision of Financial Advisory Service (FAAG17) or seek legal advice.

 

[FlyGuardX]

This kelwin guy last time shilled Three Arrows Capital right?
Hai alot of ppl lose money

I put into anchor protocol after watching his video

 

[0218crawford]

today ish how to invest your 10K
tomorrow ish how to invest cpf
next day ish how much u need to retire in SG.
following month ish how to invest 100K
rinse and repeat with slight twist.
maciam the same roti but cook differently. curry roti, blackpepper roti, fried roti, roti with avocado etc.

and yet youtubers can do this for many years and make 20K per month from utube and affiliate marketing? either u lespect their ingenuity or u have to come to the conclusion sinkies cmi when it comes to basic finance.

 

[Cyber_Ghost]

MAS is too kind and lenient now becomes a paper tiger.

Imho the 5 jokers (finferencers) should be named and shamed publicly in order to 杀一儆百.because their actions could cause financial losses to those kumgong followers without doing their own diligence.

 

[phunware]

That Josh guy ah~? He just released a long post in his YouTube channel~

"....
As to this news, it is not mentioned who has received a warning. What was exactly breached. But I actually support it... This warning "without naming content creator".

(whether is finance or 'influencers from all other spaces')

It's the right move.

Just like a speeding warning, reminder first, no need for the speeding ticket yet....."

Maybe it's not him~

1m65 did a Livestream and said he didn't receive the letter YET but he sound guilty when reading out the guides put up by MAS~

ML also said he is not the one and he said the 5 of them will likely remain silence and those that are not will come out and declare they didn't receive the letter~

Yah this guy


No wonder suddenly news feed no longer flood with his thumbnails and can see Demi Zhuang

 

[psyger-zero]

Could the 1M65 guy and master Leong be among the 5?

Oi @crimsontactics ur mst Leong kena mentioned liao

 

[RadEoNic]

u deserve to lose money if u listen to them
Lucky I always listen (to the opposite) of edmw’s claypot masters

 

[iceblendedchoc]

SINGAPORE - The Monetary Authority of Singapore will issue advisory letters to five content creators who may have provided financial advice without a licence.

They have been told to adjust their content and practices to meet regulatory requirements, with MAS warning that those who persist in offering unlicensed advice will face enforcement action.

The Straits Times understands that this is the first time MAS is issuing advisory letters to content creators.


The central bank did not identify the five content creators, or specify how their content should be adjusted.

ST understands that future enforcement measures may be taken under Section 6 of the Financial Advisers Act, which provides that a person who acts as a financial adviser without a licence is liable to a fine of up to $75,000, imprisonment of up to three years, or both.

Full article: https://www.straitstimes.com/busine...have-given-financial-advice-without-a-licence

Mas No say who might as well dun say

 

[phunware]

MAS is too kind and lenient now becomes a paper tiger.

Imho the 5 jokers (finferencers) should be named and shamed publicly in order to 杀一儆百.because their actions could cause financial losses to those kumgong followers without doing their own diligence.

Maybe need to give chance because their net worth quite big, if they buay song and dump SGX shares, will cause the market to 刮起大风, make even more people lose life savings


But telling the world to be careful got 5 dubious Youtuber, it show MAS got do work, viewers become vigilant while the Youtubers can still rake in ad revenue, every status qou

 

[coyote]

Mas No say who might as well dun say

It's not. It means mas is giving them chance. Just stand down and lay low.

 

[Hyruga]

Actually why cannot give fin advice online?

 

[Spirax]

MAS and SPF need to list out the influencers, so everyone will be careful next time

 

[crimsontactics]

Oi @crimsontactics ur mst Leong kena mentioned liao

Moi thought he ish not part of the 5 Bro psyger-zero???