SC issues revised guidelines on advertising for capital market products and related services

28 April 2025

On 27 March 2025, SC revised the Guidelines on Advertising for Capital Market Products and Related Services (“Guidelines”), which will take effect on 1 November 2025.

The revisions address evolving advertising and promotional trends, particularly the growing influence of social media and financial influencers (“Finfluencers”), to ensure responsible advertising practices in the capital market. Key amendments to the Guidelines include subjecting independent Finfluencers - those who promote financial products and services without being engaged as marketing agents - to the same advertising requirements as formal advertisers.

Advertisers are now explicitly accountable for ensuring their marketing agents comply with the Guidelines. Rules governing social media promotions have also been strengthened, and entities not authorised by the SC are prohibited from providing advertising services in Malaysia. These revisions align with international best practices from jurisdictions such as Australia, the UK and Singapore, and incorporate feedback from industry stakeholders, including Finfluencers. By implementing these updates, the SC aims to promote responsible advertising in emerging digital spaces while safeguarding investor interests.