SEBI cautions public to deal only with RIAs
SEBI has cautioned public to deal only with SEBI registered investment advisers and research analysts for availing investment advisory and research services. The regulator has urged people to look at the list of SEBI RIAs and research analysts on its website before availing investment advisory or research services. "The general public should also be wary of trading in the securities markets based on the tips/recommendations provided by unregistered entity/person and should not get attracted or lured by such trading tips and stock specific recommendations received through SMSs or through any public media including websites or through any other social networking media. Further, the public in general is cautioned to take their informed investment decisions without being influenced by any such messages or by any other misleading advertisements through websites or any other public media, mass messaging, emails and telephone calls which solicit investments and/ or promise unrealistic returns," cautioned SEBI. So far, SEBI has taken action against 10 entities by asking them to cease and desist from acting as investment advisers. The regulator has disclosed the list of these entities on its website.
Source: Cafemutual : http://cafemutual.com/news/industry/5712-sebi-cautions-public-to-deal-only-with-rias