Sebi, DoT to turn the heat on fake stock tips

Regulator's surveillance team is taking help of cyber experts to trace the origin of text messages

Investors might soon get relief from pesky SMSes with fake stock tips, as the Securities and Exchange Board of India (Sebi) and the Department of Telecommunications (DoT) are planning to take stern action against brokers sending these messages.
 
According to sources, the capital markets regulator has identified brokers who could be using third-party bulk messaging service providers to circulate the unauthoriesed investment tips.
 
With markets going through a buoyant phase this year, the intensity of such messages has increased. These messages lure gullible investors into buying shares of little-known companies. This helps create liquidity, thereby providing an exit