The Brazilian Financial and Capital Markets Association (ANBIMA) has issued guidelines for hiring digital influencers to advertise investment products.

As  emphasized by the Management of Investment Product Distribution that these guidelines enhance clarity and transparency in information, ultimately ‘empowering and assisting investors in the decision-making process.’

According to the guidelines, contracts for advertising entered into by entities and influencers must include a detailed description of the scope and performance criteria expected from the contractor. Additionally, entities are required to provide ANBIMA with the list of digital influencers hired to manage information and oversee the performance of such contracts.

Furthermore, the guidelines provide that influencers should (i) be entitled to the necessary certification if such advertising content requires authorization or certification, (ii) openly disclose the name of the contracting party either verbally or in writing, (iii) operate transparently and in good faith, preventing potential conflicts of interest and unfair competition.

These new guidelines are enforceable to entities adherent to ANBIMA’s Regulation and Best Practices and have been in effect since publication.

Abe Advogados is available for additional clarification and support in adjusting contracts related to these matters.