The 53-year-old chemical engineer with a Gujarat-based fertiliser company offers free investment advice to the more than 133,000 members on his Facebook page.
Notably, Sebi on March 2, 2023 had barred Arshad Warsi and promoters of Sadhna Broadcast from the securities market in a case related to uploading misleading videos on YouTube channels which recommended investors to buy the company’s securities.
The recent SEBI action on FinFluencers who appeared on a business TV channel and tended misleading financial advice for personal gain opens a new front in the battle for the markets regulator. While SEBI s action underscores its commitment to safeguarding investor interests, it must do more to enshrine transparency across media platforms
Should you go by your parents age-old advice on buying a house, or the earnest tips from a friend who made a killing through cryptocurrencies, or perhaps try out the finfluencer who has 4.5 million followers? How do you decide whom to trust? Check here
India Business News: MUMBAI: In its first major case of a crackdown on a financial influencer (or finfluencer), markets regulator Sebi on Wednesday barred three entities f.