FINRA Investor Education Foundation Examines Effects of Social Media “Finfluencers”

On April 2, 2026, the Financial Industry Regulatory Authority (“FINRA”) Investor Education Foundation (the “Foundation”) published a brief (the “Brief”) examining the demographic characteristics, investment knowledge and fraud vulnerabilities of retail investors who reported using social media to inform their investing decisions or making investing decisions based on the recommendation of social media personalities dispensing financial advice, or “finfluencers.”... By: Mayer Brown Free Writings + Perspectives