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Tuhin Kanta Pandey, SEBI, Chairman said that the market regulator will focus on spreading awareness on cyber frauds and risks.
Pandey was speaking at the Mint India Investment Summit held recently in Mumbai.
The SEBI Chief said, “This is one pillar where a lot of work still needs to be done. The markets are changing rapidly and it has to be ensured that investors keep pace with this change. Towards this end, our role in building investor awareness and education is very crucial. We intend to work with entire market eco-system to launch a more comprehensive awareness program for investor awareness including on the pernicious cyber-frauds and risks.”
Talking about misleading content on social media, Pandey said that many investors are putting their savings into investments which do not meet their risk profile after consuming misleading content on social media platforms.
The new chairman said that SEBI has been monitoring social media platforms to identify such misleading content and has successfully worked with respective platforms to take down such content before the damage is widespread.
Further, Pandey said that it will not tolerate any egregious behaviour of regulated intermediaries. He said, “While SEBI ensures that market participants are adequately supervised, egregious behaviour of intermediaries with respect to client assets cannot be ruled out and cannot be tolerated. SEBI has been regularly taking various initiatives towards protection of client assets, as asset safety is important for investors to have confidence in the markets.”
