Time to change Sebi rules on advice

If you read Sebi regulations on investment advice, retail algos are illegal products

The market watchdog, the Securities and Exchange Board of India (Sebi), has told stockbrokers who provide algorithmic trading (algo trading) not to allow algo sellers to promise high returns on their trading platforms. Algos meant for retail investors, or retail algos as they are called, have been publicising extraordinary returns for a long time. It is good that Sebi is attempting to stop such mis-selling. However, is the promise of extraordinary returns the only problem with retail algos? In my view, the problem is much bigger and very basic. If you read Sebi regulations on investment advice, retail algos are