26 Nov 2021

Tik Tok bans Financial Promotions

There have been increasing concerns that the younger generation are taking on too much investment risk when they can least afford to do so or being led into scams. This is often led by social media harping on about those good old ‘get rich quick schemes’.

In a step to fight mis-information, and fraud, Tik Tok has banned all financial promotions and products across the globe.

This does of course also scoop up the true and regulated financial services providers – but, fortunately, Tik Tok have teamed up with the Citizens advice bureau with an initiative to educate their viewers on how to make informed investment decisions and understanding financial terminology. Education, not sales on social media platforms such as Tik Tok has to be a good thing.

And Tik Tok are not alone, Google have also pledged that they will only allow financial services providers to advertise if they can prove they are regulated by the Financial Conduct Authority in the UK.