On 22 October, the CNMV held the “Finfluencers: Beyond the Like” event, which was attended by around 300 content creators, advertisers and experts.  The event highlighted the fact that social media influence requires responsibility, sound judgement and commitment to foster a digital environment that protects investors.

If you were unable to attend, you can find a summary and the videos here.

During the event, speakers expounded on various perspectives—not only from supervisors, but also from finfluencers themselves, advertising agencies, platforms, the Spanish State Security Forces and Corps, industry associations and experts. The host was the journalist and ambassador …

In his opening remarks, our Chair, Carlos San Basilio, made it clear: “At the CNMV, we want finfluencers to prioritise investor protection. We encourage you to contribute to financial education and carry out your activities in accordance with the rules.” He added: “We want to maintain an open dialogue, collaborate with you and help you understand the applicable regulatory framework. However, we also have the responsibility to ensure compliance”.


Link to the video: https://www.youtube.com/watch?v=W3Wq0CYIyB8

Next, Gloria Caballero, Deputy Director of Financial Education at the CNMV, and Raúl Navarro, CNMV Deputy Director of Secondary Markets, presented the “Finfluencers’ Guide: How to Act Responsibly”. It is a practical document designed to help finfluencers carry out their activities responsibly.


Link to the video: https://youtu.be/RIhh-o_DdnY?si=k1hxMiG7USwLsmki

During the finfluencers’ roundtable discussion, Natalia de Santiago (@natdesantiago), Pablo Gil (@PabloGilTrader) and Javier del Valle (@PabloGilTrader) discussed the educational potential of digital platforms, as well as the opportunities and challenges they present.


Link to the video: https://youtu.be/2-7gSb-4_OI?si=2-UUeEtFwaiSSlDM

Advertising responsibility was addressed by Juan Arribas, Deputy Director of the Legal Advisory Department at Autocontrol; Sergio Díaz, Head of Engagement at Imagin; Sergio Barreda, Chair of the Spanish Association of Digital Influence Professionals (Asociación de Profesionales de Influencia Digital de España, APIDE); and Cristóbal Gázquez, Chair of the Spanish Creators Union (Unión Española de Creadores). The discussion focused on transparency, responsible advertising and investor protection within the digital landscape.


Link to the video: https://youtu.be/ciesgyusI4Q?si=tTF6nKjQzzZHetHA

CNMV technical experts, Isabel Oliver and Juan Arribas, explained the new “Investors’ Guide: What You Should Know About Finfluencers”. It provides basic advice and key recommendations to consider when making investment decisions based on social media content.


Link to the video: https://youtu.be/eFB4IrpNjcM?si=wCFG0HSd6To8yMez

The crucial topic of tackling fraud on social media was also addressed. Regina Rodríguez-Pomar, Director of the Investor Protection, Fraud Prevention and Financial Education Department at the CNMV, held a discussion with Chief Inspector Miguel Ángel Sánchez from the Economic and Fiscal Delinquency Unit (UDEF) of the Spanish National Police’s Financial Fraud Section. They highlighted the fact that fraudsters use social media to target victims and noted three key steps that can be taken to combat this: prevention, verification and reporting.


Link to the video: https://youtu.be/pb-IOdJhArA?si=9sB7Hi5J3IpGkIPW

Next, José Luis Zimmermann, Public Policy Director for Spain and Portugal at Meta, spoke about the role of platforms in content dissemination.


Link to the video: https://youtu.be/vegLytZdF1Y?si=74W5Wq8sXuKgmGTd

We also examined how artificial intelligence (AI) is rewriting the rules of financial influence. To address this topic, we were joined by Pau García Milà, Co-CEO of Founderz and Director of the Chair in Employability and Responsibility in AI at the Autonomous University of Madrid. In his speech, he explained how AI is transforming the way financial information is created, consumed and distributed, as well as the opportunities it offers and the risks it poses.


Link to the video: https://youtu.be/DQzE_USSa40?si=SGszH7M_V-W1ZciA

Paloma Marín, our Vice-Chair, gave the institutional closing address.

In her view, the event made it clear that “influence carries greater responsibility, investor protection is a shared responsibility and innovation must go hand in hand with investor protection”. She thanked all the participants for their contributions and hard work, pointing out that “these collaborative spaces are essential”.


Link to the video: https://youtu.be/Xk9bENz_5r8?si=DO2zRfiCsFwkHzs8

The following institutions took part in the event as collaborators, which was moderated by the journalist José María Camarero:

  • Spanish National Commission on Markets and Competition (Comisión Nacional de los Mercados y la Competencia, CNMC)
  • AUTOCONTROL
  • Spanish Institute of Analysts (Instituto Español de Analistas)
  • Spanish Creators Union (Unión Española de Creadores)
  • Spanish Association of Digital Influence Professionals, (Asociación de Profesionales de Influencia Digital de España, APIDE)
  • IAB Spain

Thank you everyone!!!!!!