Facebook will step in to stop investment scams, but users can freely share advice, tips and knowledge on trading and investing on its platforms, a representative for the company has said, as social media stars continue to hype up investment opportunities online.

During a tense exchange with MPs on 22 September about the growing number of financial influencers on the platform promoting risky investments, Facebook’s content policy director Allison Lucas said that there was nothing stopping users from posting their insights on markets, as lawmakers continued to express concerns about how financial influencers are using the group’s tools.

“We allow users to discuss and share advice on trading and investment, and users, whether they’re paid by a brand or not, are allowed to talk about knowledge or tips,” Lucas said. “If it rises to an investment scam — so if it promises a guaranteed return or any sort of promise of investment — then it…

Read more…