SEBI asks pub­lic to deal with only SEBI-reg­is­tered in­vest­ment ad­vis­ers and re­search an­a­lysts

Consumer Voice - - In The News -

SEBI has is­sued a pub­lic no­tice ask­ing the gen­eral pub­lic to deal with only SEBI-reg­is­tered in­vest­ment ad­vis­ers and re­search an­a­lysts for avail­ing in­vest­ment ad­vi­sory ser­vices/re­search ser­vices. The de­tails of such reg­is­tered in­vest­ment ad­vis­ers and re­search an­a­lysts are avail­able on the web­site

The pub­lic in gen­eral are ad­vised to check the reg­is­tra­tion sta­tus of the en­tity/per­son on the SEBI web­site. One should also be wary of trad­ing in the se­cu­ri­ties mar­kets based on the tips/rec­om­men­da­tions pro­vided by un­reg­is­tered en­tity/per­son, and should not get lured by such trad­ing tips and stock-spe­cific rec­om­men­da­tions re­ceived through short mes­sage ser­vices (SMSs) or through any pub­lic me­dia in­clud­ing web­sites, or through any other so­cial net­work­ing me­dia.

Fur­ther, the pub­lic in gen­eral is cau­tioned to take in­formed in­vest­ment de­ci­sions with­out be­ing in­flu­enced by any such mes­sages or by any other mis­lead­ing ad­ver­tise­ments through web­sites or any other pub­lic me­dia, mass mes­sag­ing, emails and tele­phone calls that so­licit in­vest­ments and/ or prom­ise un­re­al­is­tic re­turns.

It may be noted that un­der the SEBI Act, 1992, read with SEBI (In­vest­ment Ad­vis­ers) Reg­u­la­tions, 2013, and SEBI (Re­search An­a­lysts) Reg­u­la­tions, 2014, no per­son shall act as an in­vest­ment ad­viser or a re­search an­a­lyst un­less he has ob­tained a cer­tifi­cate of reg­is­tra­tion from the Board un­der th­ese reg­u­la­tions. Act­ing as such with­out reg­is­tra­tion with SEBI may en­tail ini­ti­a­tion of ac­tion as deemed ap­pro­pri­ate un­der SEBI Act, 1992.

SEBI has taken ac­tion against seven en­ti­ties for pro­vid­ing in­vest­ment ad­vice to pub­lic with­out ob­tain­ing reg­is­tra­tion with SEBI, di­rect­ing them to: 1. cease and de­sist from act­ing as in­vest­ment ad­vis­ers and cease to so­licit or un­der­take such ac­tiv­i­ties or any

other un­reg­is­tered ac­tiv­ity in the se­cu­ri­ties mar­ket, di­rectly or in­di­rectly, in any man­ner what­so­ever 2. im­me­di­ately with­draw and re­move all ad­ver­tise­ments, rep­re­sen­ta­tions, lit­er­a­tures, brochures,

ma­te­ri­als, publi­ca­tions, doc­u­ments, web­sites, etc., in re­la­tion to their in­vest­ment ad­vi­sory ac­tiv­ity

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