From finfluencer crackdown to F&O stock entry, exit tweaks, top 10 decisions from Sebi board meeting
Securities and Exchange Board of India (Sebi) board held a meeting on June 27, Thursday and approved some major policy shifts including the exit and entry criteria for stocks in derivatives segment and tightening rules around finfluencers. ETMarkets has summarised key announcements made by the market regulator.
Here are top 10 Sebi announcements:
1) Crackdown on finfluencers
The Securities and Exchange Board of India (Sebi) has approved finfluencer norms, prohibiting regulated entities like brokers from dealing with them. Under the norms, the Sebi regulated entities and their agents are barred from having any association directly or indirectly with any other person who provides advice or recommendation in respect to securities. The regulated entities cannot have any transactions involving money, referral of a client, interaction of information technology systems or any other association with the unregulated ones.
However, the above restriction will not apply to persons regulated by the board or its agents for their association with persons who are exclusively engaged in investor education and do not, directly or indirectly, provide advice/ recommendation/ claim of return or performance.
Commenting on the move, Anshul Arzare, MD and CEO of YES Securities India said that, «As financial intermediaries, it is our fiduciary responsibility to assist clients in all neutrality, without any biases. Associating with unregistered financial influencers undermines this and poses significant risks to investors. We fully
