Listen to this article
SEBI has clarified that finfluencers do not come under SEBI Investment Adviser regulations.
SEBI said that investment advice given through public media does not fall under its purview. It said, “Investment advice given through newspaper, magazines, any electronic or broadcasting or telecommunications medium, which is widely available to the public is not considered as investment advice for the purpose of the IA Regulations.”
However, if an RIA makes such a public appearance or gives recommendation through public media, she has to comply with the SEBI Research Analysts regulations, clarified SEBI.
Clarifying definition of investment advice, SEBI said, “Investment advice is advice relating to investing in, purchasing, selling or otherwise dealing in securities or investment products, and advice on investment portfolio containing securities or investment products, whether written, oral or through any other means of communication for the benefit of the client and includes financial planning.”
