FPJ News Service New Delhi

SEBI on Friday cautioned the public about the increase in frauds related to the securities market on various social media platforms such as YouTube, Facebook, Instagram, X, WhatsApp, Telegram, Google Play Store, Apple Store etc.

With increasing adoption of digital communication platforms, it is observed that scamsters are enticing victims by giving trading calls in the name of providing education. They also provide misleading or deceptive testimonials, promise or guarantee of assured or risk free return etc. through various platforms. The market regulator has asked people to report such activities on its portal, at https://mi.sebi.gov.in/.

Common types of frauds relating to securities market through social media include: unregistered investment advisory services provided by entities that falsely claim to be registered intermediaries with SEBI or by showcasing fake certificates purportedly issued by SEBI, and impersonation of SEBI registered entities by fraudulent trading platforms, WhatsApp, Telegram channels which deceptively claim or suggest affiliation with SEBI-registered entity claiming to provide assured or risk free return.

Regulator introduces standardized application format for SIFs

Sebi on Friday introduced a standardized format for applications by mutual funds intending to establish Specialized Investment Funds (SIF) in a bid to ensure uniformity and streamline the processing of such applications. Additionally, Sebi issued a detailed format for the Investment Strategy Information Document (ISID) for SIFs. The introduction of SIFs is intended to bridge the gap between mutual funds and Portfolio Management Services (PMS) in terms of portfolio flexibility. As per Sebi's guidelines, investors are required to invest a minimum of Rs 10 lakh across all SIF strategies. However, this investment threshold does not apply to accredited investors.