financial influencers: Sebi cracks down on finfluencers selling tips as education
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financial influencers: Sebi cracks down on finfluencers selling tips as education

Mumbai: The Securities and Exchange Board of India (Sebi) has clarified that financial influencers cannot use live stock market data for educational purpose.

It said educators can only use stock price data with a three- month lag.

“Such person (someone who is engaged solely in education) should not be using the market price data of the preceding three months to speak/talk/display the name of any security including using any code name of the security in his/her talk/speech, video, ticker, screen share etc. indicating the future price, advice or recommendation related to security or securities,” Sebi said in a circular.

The move is aimed at regulating financial influencers who offer real-time trading advice disguised as education.

Last year, Sebi came out with rules which mandated that any person providing advice directly or indirectly on securities has to first register with it.

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It also prohibited regulated entities like stock exchanges, mutual fund distributors, stock brokers and depositories from having any association with unregistered financial influencers.

Reference :
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