Stock tips abound on Telegram, Insta. But do all adhere to Sebi’s rules?

livemint.com:

“Kuch to gadbad hai, Daya (Something is certainly amiss, Daya)!" ACP Pradyuman may have drawn inference to the murky world of financial influencers across social media in the reel world if ‘CID’ was tasked to investigate the labyrinthine world of online stock trading advice, where the rules are blurred and profits beckon. However, in the real world, he is as much a part of the systemic rot, wittingly or unwittingly, as he shares screen space with ‘Captain Cool’ Mahendra Singh Dhoni in promoting a popular platform offering futures and options subscriptions by Securities and Exchange Board of India (Sebi)-registered analysts (RAs).

In fact, Instagram and Telegram channels have emerged as the modern-day saloons of the Wild West. Here, under the guise of Sebi-approved analysis, registered and unregistered entities boldly flaunt endorsements from celebrities with promises of overnight riches, all while sidestepping regulatory scrutiny.

And this murky landscape, dotted with tales of lavish vacations and promises of eye-popping returns, underscores a pressing question: Who polices the pitfalls of financial advice in the digital age? “In cases where unregistered entities use celebrity endorsements to indirectly promote Sebi-registered analysts, the markets regulator will definitely pursue action against the registered entity," warns Srikanth Meenakshi, co-founder of Primeinvestor.in, a Sebi-registered subscription-based research advisory firm. However, while the regulator indeed takes a hands-on approach in ensuring compliance, the digital space is besieged by dubious practices.

Take, for instance, the case of “Gap up by Rigi" and its Telegram channel, “gapup_channel_official". The platform’s homepage prominently displays Dhoni