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Is it illegal to sell funds without real name in the financial live broadcast room?
This is not illegal.

It is not illegal to broadcast live without a real name, but you need to register your account with a real name. For example, if this is your account registration, you must use your real identity. You need real-name authentication, otherwise you can't register.

Now there are many videos on Tik Tok, and the live broadcast begins to promote various wealth management products such as stocks, futures, gold, funds and insurance. This phenomenon is very common now. Because it's not illegal.