NOTICES
Notice No. 20241219-41 Notice
Date 19 Dec 2024
Category Compliance Segment IA/RA
Subject Advisory on Impersonation of Investment Advisors and Unauthorised Market Practices
Considering the recent investor complaints and media reports, it is observed that some unscrupulous persons/ entities operating through Indian and International mobile numbers, through impersonation on social media platforms like WhatsApp Groups, Telegram Channels, Facebook, Instagram Channels, etc., are falsely claiming to be associated with reputed financial institutions, showcasing fake certificates purportedly issued by SEBI/ Exchanges.
In view of the above and to protect the investors from unauthorized schemes/frauds due to impersonation, Investment Advisors are advised to actively search the web/social media platforms for possible impersonation of their name regularly and immediately take following actions:
a) Initiate steps to take down such App/website/social media posts etc. by filing FIR with the cyber-crime police
b) Issue public notices and take up the matter with concerned Social Media Platforms (SMPs)/ App Stores/ Authority (such as Apple for IOS, Google for Android and MeiTY for websites etc.)
c) Notify clients about-such impersonation findings, guiding them to verify the authentication of offer like asking them to visit official website or tagging official social media handles or calling customer care at email/phone no., etc. and advise clients not to participate/subscribe to any such product/scheme being offered.
Further, as a part of investor awareness and cautioning public at large, the Exchange is publishing and updating all issued press releases on its website under ‘Media coverage and Press releases issued to caution investors’ heading. The link to view/refer issued press releases on the Exchange website is given below.
Investment Advisors are requested to communicate about following link to their clients for their information & awareness.
The Exchange website Link –
1. https://www.bseindia.com/markets/MarketInfo/MediaRelease.aspx
2. https://www.bseindia.com/attention_investors.aspx
All Investment Advisors are advised to take note of the above and take necessary action.
In case of any clarification required, you may reach at 022-69158540/ 45720640/ 45720440 or you may send an email to [email protected].
For and on behalf of BSE Ltd.
Kaustubh Mundada Yash Dedhia
Asst. Gen. Manager Associate Manager
Member Oversight Member Oversight
