The BSE on Wednesday cautioned investors against unauthorised entities on Telegram that are offering investment and trading recommendations.
The telegram channels that have been called out include Vijay Wealth Advisor, Baadshah Badshah Broking, Baadshah Broking Baadshah, Pankaj Bhardwaj Way2laabh TM, Pankaj Bhardwaj Way2laabh, according to a release.
Caution for investors against unregistered and unauthorized entities: https://t.co/GWDKiKcUZa#BSEIndia #InvestorAwareness pic.twitter.com/WV2pTgMOj9
These telegram channels, according to BSE, are conducting unauthorised activities like investment and trading recommendations without valid research analyst registration. It added that none of the individuals or entities are registered member or authorised personal registered with BSE.
The exchange further added that these individuals or entities are also offering investors with securities market tips with assured or guaranteed returns on investment. They have also offered to handle trading accounts of investors by asking investors to share their ID and password.
BSE advises investors to only deal with registered intermediaries and verify registration status before investing to avoid fraud.
This comes days after the Securities and Exchange Board of India issued a public warning against "opinion trading platforms," cautioning that these platforms operate outside of its regulatory oversight and offer no investor protection under securities law.
Such platforms allow users to engage in transactions based on the outcome of specific events, often using terminology similar to traditional trading platforms. SEBI advised investors to be aware that opinion trading generally falls outside of its regulatory purview since the transactions do not involve securities.
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