Kamlesh Chandra Varshney, a whole-time member of the Securities and Exchange Board of India (Sebi), said on Friday that the market regulator in the last three months had removed around 15,000 content sites linked to unregistered finfluencers or providing unauthorised investment advice.
Photograph: Francis Mascarenhas/Reuters
Speaking at the Global Fintech Fest, he said there was successful engagement with the technology providers who are complying with the regulator’s request.
Sebi has received over 1,000 responses on the recent consultation paper concerning overhaul of the norms on registered investment advisors (RIAs) and research analysts (RAs), Varshney added.
The proposal is expected to be on the agenda of the Sebi board in its next meeting scheduled at the end of September.
On Thursday, Sebi issued the notification restricting the association of its regulated entities such as brokers and mutual funds with unregistered entities or finfluencers.
Sebi had approved the norms in its previous board meeting.
Regulator notifies stricter F&O selection criteria
Market regulator Sebi on Friday notified the stricter criteria for selection of stocks in the F&O segment.
The new norms are expected to lead to churn in the stocks that are available for trading in the F&O market.
Under the new norms, stocks will have to meet enhanced criteria around market capitalisation, trading volume, and market-wide position limits.
This is aimed at ensuring only stocks with sufficient market depth get selected for derivatives trading.
