The Financial Post reports in its Wednesday edition that the Ontario Securities Commission may follow British Columbia's lead in cracking down on stock promotions and manipulation using social media. The Post's Barbara Shecter writes that the B.C. Securities Commission proposed sweeping new rules in May that would require anyone promoting stocks on social media or via videos on platforms such as YouTube, known as "finfluencers," to reveal whether they own the security or derivatives of it, and disclose any compensation they are receiving for the promotion. The rules would also prohibit misstatements without requiring proof of impact on the value of securities. "We're looking at that in Ontario as well," Grant Vingoe, OSC chairman, said Tuesday during an on-line conference. "And we're also looking at under our existing tools, delving into influencers, social media, to really identify misleading and manipulative statements, statements that ... contain misinformation." He said this could lead to a requirement for registration by some market players, or enforcement actions. Cathie Amour at Australia's securities regulator said, "Many of these folks ... don't have qualifications or skills to provide useful advice."