Members of demographic cohort known as Generation Z (born 1997‒2012) are now becoming potential first-time investors. It is also the first generation that is strongly related to the Internet use, as they can basically handle everything online. It is also valid for handling their investments. The goal of the paper is to indicate the potential activities of YouTube creators active in investment content in Czech Republic that might be non-compliant with current regulatory requirements and investigate the influence of YouTube content by first-time Generation Z investors. Paper has a character of exploratory research and utilizes qualitative research approach: document analysis of current regulatory requirements and written statements with 30 respondents. Results show that some activities of YouTube creators related to investment content might be considered as regulated activity requiring license. Moreover, YouTube and also TikTok were identified as the most influential sources for making investment decisions by respondents. As a recommendation, papers calls for deeper future research and cautions monitoring of online world by regulators to ensure that there is no misleading of investors.