Sebi removes 70,000 misleading social media posts nationwide

Sebi has taken action against misleading information on social media. Since October last year, it has removed more than 70,000 posts and accounts in cooperation with social media companies. This effort aims to address the issue of unregistered investment advisers. Ananth Narayan, a Sebi official, spoke about these concerns at an event held by the Association of Registered Investment Advisors. He highlighted the growing problem of unregistered advisers who take advantage of people's interest in investing. To improve safety for investors, Sebi is planning to introduce the UPI 'Payright' handle. This will help identify registered entities clearly. Narayan emphasized the need for a trusted community of registered advisers to protect investors from fraud. He also noted that there is a demand for more investment advisers and research analysts. Additionally, he mentioned the importance of self-regulation within the industry, as practitioners often understand the market better than regulators.