New Delhi: The Bombay Stock Exchange (BSE) has cautioned investors about an individual allegedly providing unauthorised research and investment-related services without SEBI registration, urging the public to verify credentials before investing.
The stock exchange cautioned investors to stay away from any scheme or product offered by the entity.
Entity, namely Ashish Nayak Rocking Investment, who runs an X handle for investment recommendations and a similar Telegram channel are neither “registered as a member nor as an authorised 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 the 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 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 from having 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.
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—IANS
