While SIPs grew so did F&O: Why retail investors need to be protected from unregulated fininfluencers

economictimes.indiatimes.com:

social media platforms over the last decade and a half has had a pervasive impact on the way industries function, especially in large consumer markets like India. The 'personal finance' industry in India is an apt case study, which has witnessed a significant uptick in using social media platforms by individuals/organizations. These individuals, who are largely unregulated, share information and advice with prospective investors on a range of topics covering the entire spectrum of financial planning on social media platforms like Facebook, Instagram and Twitter and many others. Their counsel covers most financial instruments, including market securities, mutual funds, insurance and pension funds.
Notably, no stipulations define the eligibility criterion and qualifications under an established legislative framework in India. As a consequence, most of 'Financial Influencers' or 'Finfluencers' are ill-equipped to offer professional advice and guidance to investors, who commit their hard-earned money based on such information.

Action by regulators

India's financial regulators, like the Securities and Exchange Board of India (SEBI), are mandated by law to protect the interests of investors in securities and promote the development and regulation of the securities market. They are also empowered to take measures to prohibit fraudulent and unfair trade practices in the securities market.

Cognizant of the risks posed by finfluencers, Indian regulators have taken various measures to regulate the activities of stakeholders