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SEBI probing into sharing of listed companies info on social media

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SEBI probing into sharing of listed companies info on social media
Markets regulator Sebi will look into the complaints of some individuals allegedly circulating key financial details and other information about listed companies on social media groups before they are made public, an official said.
Sebi will also seek clarification from brokerages and listed firms if such individuals are found to be associated with them, the official said on the condition of anonymity.
The information about the listed companies are mostly being made through SMSes, WhatsApp and various social media platforms, wherein names of some established brokerage houses and exchanges are also being misused.
While the Securities and Exchange Board of India (Sebi) has already taken action in several such cases so far, it is investigating a number of others involving similar activities, the official said.
Citing an investigation, Reuters reported today that messages are being circulated on private WhatsApp group disclosing the financial information of the listed companies before making it public.
Sebi has already taken action against several entities for providing investment advice without registration. These included MCX Biz Solutions, Moneyworld Research and Advisory, Global Mount Money Research and Advisory, Orange Rich Financials, Go Capital, CapitalVia Global Research and one Imtiyaz Hanif Khanda and his maternal uncle Vali Mamad Habib Ghaniwala.
Besides tightening its noose on the scamsters, Sebi has enhanced its investor awareness campaign on these issues.
In several latest public notices, the markets regulator cautioned the investors against trading on the basis of unsolicited tips received through SMSes, social media, websites and other public media platforms.
It also asked the public to deal with only Sebi- registered investment advisers and research analysts and warned the unregistered entities of strict action.
The Mint, New Delhi, 17th November 2017

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