Sebi red flags unauthorised advisers

Warns investors to deal with only registered investment adviser

Market regulator Securities and Exchange Board of India (Sebi) has taken action against ten entities for providing investment advice to investors without obtaining registration with the regulator.

Sebi on Thursday released the list of the people who are desisted to act as investment advisers or to do any other unregistered activity in the securities market, directly or indirectly, in any manner.

They are also asked to immediately withdraw and remove all advertisements, representations, brochures, publications, websites, etc. with respect to investment advisory activity.

Concerned over investor getting lured over false trading tips, Sebi has warned investors to deal with only registered investment adviser and research analyst for investment advices.

Market regulator advised investors to check the registration status of the person/entity on the website before availing the investment advisory services.

"Investment tips provided by unregistered entity/person and should not get attracted or lured by such trading tips received through SMS or through any public media including websites or through any other social networking media, Sebi noted.

Regulator cautioned investors to take informed decision without being influenced by any misleading advertisements through nay medium.