SEBI cautions public to deal with only SEBI registered investment advisers and research analysts
The general public is hereby cautioned to deal with only SEBI registered investment advisers and research analysts for availing investment advisory services/ research services. The details of SEBI registered investment advisers and research analysts are available on the SEBI website www.sebi.gov.in. The public in general is advised to check the registration status of the entity/person on the SEBI website before availing the investment advisory services/ research services.
The general public should also be wary of trading in the securities markets based on the tips/recommendations provided by unregistered entity/person and should not get attracted or lured by such trading tips and stock specific recommendations received through Short Message Services (SMSs) or through any public media including websites or through any other social networking media.
Further, the public in general is cautioned to take their informed investment decisions without being influenced by any such messages or by any other misleading advertisements through websites or any other public media, mass messaging, emails and telephone calls which solicit investments and/ or promise unrealistic returns.
It may be noted that under the SEBI Act, 1992, read with SEBI (Investment Advisers) Regulations, 2013 and SEBI (Research Analysts) Regulations, 2014, no person shall act as an investment adviser or a research analyst unless he has obtained a certificate of registration from the Board under these regulations. Acting as such without registration with SEBI may entail initiation of action as deemed appropriate under the SEBI Act, 1992.
SEBI has taken action against 10 entities for providing investment advice to public without obtaining registration with SEBI directing them:
- to cease and desist from acting as investment advisers and cease to solicit or undertake such activities or any other unregistered activity in the securities market, directly or indirectly, in any manner whatsoever.
- immediately withdraw and remove all advertisements, representations, literatures, brochures, materials, publications, documents, websites, etc. in relation to their investment advisory activity.
The list of the entities against whom orders have been passed is given below. The orders are also available on SEBI website at www.sebi.gov.in.
|Order in respect of Unregistered investment advisers U/s 11 of the SEBI Act, 1992|
|Sr. No.||Name of the Entity||Date of Order|
|1||Mr. Mansoor Rafiq Khanda and Mr. Firoz Rafiq Khanda||15.09.2014|
|2||Moneyworld Research and Advisory Pvt. Ltd.||02.12.2014|
|3||Mr. Ravi Chouksey (proprietor of Gravita Research Company)||04.06.2015|
|4||Global Mount Money Research and Advisory Pvt. Ltd.||12.03.2015|
|5||HBJ Capital Services Private Limited & HBJ Capital Ventures LLP||15.06.2015|
|6||Orange Rich Financials||08.07.2015|
|8||Asian Corporate Consultancy||03.03.2016|
|9||Indian Stock Tips and Indira Trading Company||17.03.2016|
|10||Mr. Anirudh Sethi||26.05.2016|
This Public Notice is issued in the interest of investors in the securities market.
June 09, 2016