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by Mike Caswell

The Alberta Securities Commission has found a so-called "finfluencer" liable for violations arising from videos and other material he posted on-line touting four listings. The material described companies in overly promotional terms, referring to one as "insanely cheap" and another as being a "massive steal," the ASC says. Missing from his material was adequate disclosure of the tens of thousands of dollars that the ASC claims he was receiving in compensation.

The violations are set out in a decision that the ASC released on Monday, April 28. The case targets James Domenic Floreani, a resident of Canmore, Alta., who calls himself a "finfluencer." (The term refers to an individual who creates on-line content focused on investment products and advice.) The ASC says that Mr. Floreani, who had little formal education in finance or investing, had built an on-line following that attracted the attention of public companies looking for promotional services. Among other things, he had a YouTube channel with 54,000 subscribers.

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