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SEBI Plans Rules for Unregistered Finfluencers

StartupTalkyStartupTalky · 1y ago
SEBI Plans Rules for Unregistered Finfluencers
Medial

The Securities and Exchange Board of India (SEBI) is considering implementing guidelines to regulate financial influencers, or "finfluencers," who provide investment advice and financial information on platforms like Instagram and YouTube. SEBI aims to bring transparency and accountability to the financial services space by ensuring that finfluencers disclose any paid promotions or connections to the products they endorse, adhere to regulations, provide accurate information, and prioritize financial education. Adjudicating the definition of finfluencers and addressing legal challenges present potential obstacles to effective enforcement. This move comes as the popularity and influence of finfluencers continue to grow.

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SEBI proposes dissociation of regulated entities from "Finfluencers"

Startup News FYIStartup News FYI · 1y ago
SEBI proposes dissociation of regulated entities from "Finfluencers"
Medial

SEBI has released a consultation paper proposing that regulated intermediaries distance themselves from unregistered financial influencers, or "finfluencers," who provide advice on financial matters via digital media. The proposal aims to limit affiliations between regulated entities and unregistered finfluencers, seeking public opinions on the issue. The paper prohibits intermediaries from establishing connections with unregistered entities to curb promotion and endorsement activities. SEBI-registered finfluencers must prominently display their registration numbers, contact details, and investor grievance helpline information. Similar moves are seen in the Advertising Standards Council of India's influencer advertising guidelines, enhancing responsibilities for health and finance influencers.

Solution not as easy: Zerodha's Nithin Kamath on Sebi's new regulations for finfluencers

Economic TimesEconomic Times · 1y ago
Solution not as easy: Zerodha's Nithin Kamath on Sebi's new regulations for finfluencers
Medial

Zerodha's CEO, Nithin Kamath, commented on the recent consultation paper by India's capital markets regulator, Securities and Exchange Board of India (SEBI), stating that regulations targeting a few individuals misrepresenting financial products can potentially harm the entire referral industry's livelihood. Kamath mentioned that while SEBI's paper is a step in the right direction, addressing the issue is complex given the structure of capital markets. He highlighted the importance of plugging payouts of unregistered advisors or analysts, as suggested by SEBI. Kamath also discussed Zerodha's approach to validating customer claims and the Verified P&L feature introduced to curb misinformation.

Sebi seeks public comments on draft circular to regulate association with prohibited entities

Economic TimesEconomic Times · 6m ago
Sebi seeks public comments on draft circular to regulate association with prohibited entities
Medial

The Securities and Exchange Board of India (SEBI) has released a draft circular to regulate associations between market intermediaries, market infrastructure institutions (MIIs), and entities involved in prohibited activities. This comes after amendments were made to SEBI's rules earlier this year to curb unregistered entities providing investment advice and unauthorized claims of returns. The circular clarifies that intermediaries and MIIs are prohibited from associating with entities offering unregistered securities advice or making unauthorized claims. It also outlines the consequences of violations and requires regulated entities to terminate contracts with prohibited entities by January 2025. Stakeholders have until December 27 to provide feedback on the draft.

SEBI clears fininfluencers framework; flags concerns on F&O bets on borrowed money

YourStoryYourStory · 1y ago
SEBI clears fininfluencers framework; flags concerns on F&O bets on borrowed money
Medial

The Securities and Exchange Board of India (SEBI) has announced its decision to regulate financial influencers, also known as finfluencers, due to concerns over potential risk associated with their activities. SEBI Chief, Madhabi Puri Buch, expressed concerns about retail investors making speculative bets in the futures and options segment, and announced the formation of an expert working group to address this issue. The board approved norms to restrict associations between SEBI-regulated entities and unregistered individuals to counter the inappropriate claims made by certain finfluencers. SEBI also announced plans for a closed ecosystem for fee collection by registered investment advisers and research analysts.

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