BSE warns investors against unauthorised investment services on social media

BSE has warned investors against engaging with an unregistered entity offering investment recommendations and soliciting funds through X and Telegram. The exchange advised investors to verify registrations, avoid assured-return schemes and refrain from sharing trading credentials with unauthorised persons

New Delhi: Bombay Stock Exchange (BSE) Limited on Wednesday warned investors about an individual who is not registered with SEBI as a Research Analyst but offers unauthorised services and solicits funds from investors.

The stock exchange cautioned investors to stay away from any scheme or product offered by the entity.

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Entity namely Ashish Nayak Rocking Investment who runs an X handle for investment recommendations and a similar Telegram channel are neither “registered as member nor as Authorized Person of any registered member of the BSE Limited,” the exchange clarified.

BSE warned that these schemes involve significant risks and do not provide access to investor protection or dispute resolution mechanisms. It urged investors to check registration of its intermediaries on its website and use SEBI’s portal to access investor protection and dispute resolution services.

Investors participate in such schemes at their own risk and cannot seek redress from BSE, it warned.

Investors are advised not to not subscribe to any scheme or product offered by any person or entity offering indicative or assured returns in the stock market as the same is prohibited by law.

BSE had earlier warned investors against sharing their trading credentials such as user id/password with anyone for trading in their account/handling of the portfolio.

It had warned about individuals active on Telegram and Instagram offering to handle trading accounts of investors by asking investors to share their Login ID/Password, the stock exchange said.

SEBI has also recently alerted unregistered investment advisory services being provided by entities that falsely claim to be registered intermediaries with SEBI or by showcasing fake certificates purportedly issued by the regulator.

SEBI had banned its registered intermediaries or their agents to have any association or relationship in any form, whether monetary or non-monetary, for any promotion or advertisement of their services or products, with any unregistered entities.