Listen to this article
SK Mohanty, SEBI Whole Time Member has recently said that the market regulator will regulate social media influencers who give unsolicited financial advice.
Speaking at the sidelines of the CII event recently held in Mumbai, Mohanty said, “We are working on guidelines for financial influencers. There has been a surge in people giving lectures on YouTube on assured returns.”
Last year, SEBI issued a warning for investors against unsolicited stock tips and investment advice that are circulated through bulk SMS, websites and social media platforms. The market regulator further advised investors to exercise appropriate due diligence before dealing in the securities market.
The market regulator said that circulation of such 'misleading messages' is not only detrimental to the interest of the investors but also 'adversely affects the integrity' of the securities market.
