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.
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.
First Published: Aug 30 2024 | 8:08 PM IST
