SEBI on Friday requested registered intermediaries wishing to promote on social media platforms like Google and Meta to register on these platforms utilizing the contact particulars reminiscent of the e-mail ID and cell quantity offered to the markets watchdog.
The transfer is geared toward curbing fraudulent actions within the securities market.
This choice got here after SEBI noticed a fast improve in frauds associated to securities markets being performed on platforms reminiscent of YouTube, Facebook, Instagram, WhatsApp, X (previously Twitter), Telegram, and the Google Play Store.
With growing adoption of digital communication platforms, SEBI noticed that perpetrators of such frauds are engaging victims within the identify of offering on-line buying and selling programs, seminars, giving deceptive or misleading testimonials, guarantees or ensures of assured or threat free return and many others. by way of numerous social media platforms (SMPs).
To shield traders and improve transparency, SEBI has taken steps to strengthen the conduct of registered intermediaries on these platforms.
“It has been decided in consultation with Social Media Platform Providers that all SEBI registered intermediaries uploading/ publishing advertisements on SMPPs like Google/ Meta (to start with), shall be required to register on such social media platforms using their email IDs and mobile numbers registered on SEBI SI Portal,” the regulator mentioned in a press release.
Following this, these platforms will perform verification checks on the intermediaries earlier than permitting them to publish adverts. This verification course of goals to make sure that solely professional, verified intermediaries can promote on these platforms.
The regulator has requested all intermediaries who want to promote on SMPs to replace their contact details- particularly their electronic mail ID and cell quantity – on the SEBI SI Portal by April 30, 2025.
The transfer is a part of SEBI’s efforts to curb fraudulent actions, safeguard investor pursuits, and promote a extra clear and safe securities market.
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