1. Trai crackdown on unsolicited investment advice, telecom service providers get directions

Trai crackdown on unsolicited investment advice, telecom service providers get directions

Following concerns raised by Sebi over unscrupulous entities sending SMSes on investment advice for financial gains by manipulating the security market, Trai on Thursday issued directions to telecom service providers regarding such unsolicited bulk SMSes.

By: | Published: August 11, 2017 6:20 AM
trai, trai crackdown, trai crackdown on investment advice, telecom service providers, trai news, trai latest news Only Sebi-registered investment advisers such as brokers, sub-brokers, portfolio managers and merchant bankers are allowed to provide investment advice to investors in stocks and shares, the Trai said. (Reuters)

Following concerns raised by Sebi over unscrupulous entities sending SMSes on investment advice for financial gains by manipulating the security market, Trai on Thursday issued directions to telecom service providers regarding such unsolicited bulk SMSes. Only Sebi-registered investment advisers such as brokers, sub-brokers, portfolio managers and merchant bankers are allowed to provide investment advice to investors in stocks and shares, the Trai said.

Trai has also directed operators that SMSes on investment advice or stock tips should be only through Sebi-registered investment advisers, stock brokers, subbrokers, portfolio managers and merchant bankers and shall be allowed to be sent only by a registered telemarketer.

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