SEBI Action On Financial Influencers: Unregistered Financial Influencers, Or such financial influencers who give suggestions regarding investment, there is a preparation to regulate such people. SEBI, the regulator of the stock market, is soon going to issue a draft and discussion paper to frame rules and guidelines regarding financial influencers.
Recently, the Income Tax Department has sent notices to 35 social media influencers for not paying taxes worth crores of rupees. Last week itself, a search operation has been conducted against 13 YouTubers in Kerala. SEBI Chairperson Madhabi Puri Buch said in a press conference after the SEBI board meeting that we will issue a draft paper to regulate financial influencers on which suggestions will be sought from the public. He said that the draft paper will be ready in the next few months for the comments of the stakeholders.
SEBI chairperson said that if someone educates investors about investment and market then we have no problem. But if a person who is not registered with SEBI gives misleading investment advice, then we have a problem with it.
There are many unregistered financial influencers in the country who are earning huge money by giving investment suggestions to investors and influencing the market. Many such financial influencers are seen giving suggestions to investors on YouTube, Instagram, Telegram, WhatsApp and Twitter. SEBI has been continuously advising investors not to fall prey to the suggestions given in these social media.
Earlier also after the SEBI board meeting in the month of February Whole Time Member Ananth Narayan Gopalakrishnan will release a discussion paper on Financial Influencers on which inputs will be taken to take effective measures to control unsolicited financial advice from social media influencers and unregulated investment advisors Will be asked
read this also