 "Sebi warns against unsolicited SMS, call tips for stocks")
Capital markets regulator Sebi on Friday cautioned general public against trading on the basis of unsolicited tips received through SMSes and calls.
In a caution notice, the regulator asked public to deal with only Sebi-registered investment advisers and research analysts and warned unregistered entities of strict action.
It said that Sebi has taken action against 15 such entities including Moneyworld Research and Advisory, Global Mount Money Research and Advisory, Orange Rich Financials, GoCapital and CapitalVia Global Research for providing investment advice without registration.
The regulator said investors must deal with Sebi-registered intermediaries for their services. The details of such entities are available on the Sebi website.
Investors should be wary of any misleading advertisements with solicit investments in securities market assuring guaranteed profits. The investors should take informed decision without being influenced by trading tips.
The move comes after Sebi noticed that many entities have been luring investors through unsolicited calls/SMSes and assuring guaranteed profits on the trading tips provided by them. It is observed that this activity is carried out mostly by entities based in Madhya Pradesh and Gujarat.
