Hong Kong Securities Regulatory Commission tightens compliance requirements for licensed institutions to hire financial KOLs, including requiring brokers to conduct due diligence on KOLs

According to Foresight News, the Hong Kong Securities and Exchange Commission has planned to issue guidance to licensed corporations to clarify the standards that should be followed when hiring financial KOLs and using digital platforms for publicity, and is currently conducting informal oral consultations with the industry. The Hong Kong Securities and Exchange Commission is considering tightening compliance requirements for licensed institutions to hire financial KOLs. This includes requiring brokerages to conduct due diligence on KOLs, assess their background, reputation and experience, and continuously monitor their activities to ensure that the content is accurate and not misleading, while taking measures to identify potential market manipulation.
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