---
title: "Spain fines X platform operator €5 million for allowing unauthorized financial advertisements"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/265688438.md"
description: "On November 13, the Spanish National Securities Market Commission announced a fine of 5 million euros against the operating entity of the social media platform X for allowing unauthorized financial entities to publish investment advertisements. The regulator pointed out that the X platform exhibited \"persistent and serious\" violations, failing to fulfill its cooperation obligations with the regulatory authority and not verifying the investment service qualifications of the advertisers or whether they were on the risk warning list"
datetime: "2025-11-13T10:07:26.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265688438.md)
  - [en](https://longbridge.com/en/news/265688438.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265688438.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/265688438.md) | [English](https://longbridge.com/en/news/265688438.md)


# Spain fines X platform operator €5 million for allowing unauthorized financial advertisements

On November 13th local time, the Spanish National Securities Market Commission announced a fine of 5 million euros against the operating entity of the social media platform X (formerly Twitter) for allowing unauthorized financial entities to publish investment-related advertisements. The Spanish National Securities Market Commission determined that there were "ongoing and serious" violations, failing to fulfill its obligation to cooperate with regulatory authorities, and failing to verify whether the relevant advertisers had the qualifications for investment services or whether they were listed on the regulatory agency's risk warning list. (CCTV News)

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