A watchdog in the country reminds them they may need a licence to give financial advice to followers.
Influencers in Australia face up to five years in jail if they break laws on financial advice,
Aleks Nikolic, who dislikes the label influencer, but posts about financial investment on Instagram, TikTok and Twitter,"I think it's some of their clearest and best comms they've ever put out, potentially ever," she told the paper.The information sheet also gave a number of examples of statements that could constitute financial advice.
The information sheet also warns that making misleading or deceptive remarks about financial products could also break the law.
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