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Sebi mulls ban on social media tips

1 Mins read

Mumbai: Markets regulator Sebi on Friday proposed to ban unauthorized stock tips through SMSs, WhatsApp, Facebook, Twitter and other social media platforms. It is also mulling a ban on games and competitions based on trading in the market. Sebi also proposed stricter regulations on ‘Robo’ advisers — automated investment advisers that are gaining popularity globally. The regulator also said investment advisers using automated tools will be responsible for such advice.
Sebi also proposed stricter advertisement rules for investment advisers, a ban on free-trial offers by advisers and also said that registered research analysts will have to provide research reports to all types of investors at the same time.
On Friday, Sebi issued a consultation paper aimed at overhauling the regulations for investment advisers and it will accept comments until November 4, it said.
The markets regulator also proposed that banks, NBFCs and corporate bodies offering investment advisory services will be required to set up separate arms for that service. Sebi is proposing a three-year transition period for these entities to move investment advisory services to the new set up.

 

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