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Sebi flags 8,890 misleading social media posts related to securities market for legal action.
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Regulator notifies platforms like Facebook, Instagram, and YouTube to take action against accounts spreading false claims.
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Sebi introduces regulatory framework to prevent entities from collaborating with unregistered finfluencers.
Sebi has cracked down on finfluencers, flagging 8,890 instances of unlawful or misleading content across social media platforms. The regulator has notified leading platforms to take measures against the accounts behind the false claims, which include promises of guaranteed returns and misleading testimonials.
Sebi has introduced a regulatory framework to prevent entities from collaborating with unregistered finfluencers, prohibiting registered entities from associating with individuals or entities that offer financial advice without permission. The regulator has also ordered bans on social media influencers involved in ‘pump and dump’ schemes and providing unauthorized advice.
