KUALA LUMPUR, Nov. 17 -- Their videos promise financial freedom in minutes, their advice often shared more widely than that of licensed experts and, in some cases, heavily influences how Malaysians manage their money.

These financial influencers or "finfluencers" - online personalities who turn complex financial topics into trending reels - have long dispensed money tips, investment opinions and "wealth hacks" across social media without the guardrails that govern licensed professionals, until now.

In response to the growing presence of financial influencers and the widespread use of technology, a new guideline governing advertisements for capital market products and related services took effect on November 1.

First issued by the Secur...