New Zealand’s FMA Joins Global Action Against Unlawful Finfluencers

New Zealand’s Financial Markets Authority (FMA) has joined a coordinated international effort targeting unlawful financial influencers, alongside regulators including ASIC (Australia), Hong Kong’s SFC, Singapore’s MAS, UAE’s SCA, and the UK’s FCA, among others.

During the Global Week of Action, the FMA contacted 14 finfluencers, leading to the removal of misleading content and some operators restricting or ceasing services to New Zealand users. Regulators identified copy trading promotions and luxury lifestyle marketing as key risk areas, particularly where unauthorised CFD services are involved.

Recent enforcement actions globally include warnings, criminal charges, and custodial sentences against non-compliant finfluencers. In New Zealand, the FMA continues to address risks through enforcement measures and has proposed leverage limits of up to 30:1 on CFDs for retail clients.

The initiative reflects growing regulatory focus as social media becomes an increasingly influential source of financial information, particularly among younger investors.