Mumbai, April 16 (SocialNews.XYZ) The Bombay Stock Exchange (BSE) on Thursday warned investors about an individual who is not registered with SEBI as a Research Analyst but offers unauthorised services and cautioned investors to stay away from any scheme or product offered by them.
An entity named Gourav Dutta, who runs a website Wealth Research, is neither registered as member nor as “Authorized Person of any registered member of the BSE Limited”, the exchange clarified.
Alleged entity "engaged in unauthorised activities like investment/trading recommendations without Research Analyst Registration and soliciting funds from investors while impersonating as SEBI registered," the statement said.
Investors are advised not to not 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, the exchange said.
BSE had earlier warned investors against share 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.
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 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.
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.
To combat market abuse, a Market Intelligence portal has been developed for market participants to provide inputs pertaining to market abuse.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz