BSE Limited in New Delhi has alerted investors regarding four unregistered entities that are offering illegal services and advised them to avoid any schemes or products provided by these groups. These entities include Money Talks with Payal, NSE Stock Pro, PTS Prabhat Trading, and PTS Prabhat Trading Service, which are active on platforms like Telegram and Instagram. They are offering market tips to investors or promising guaranteed returns on stock market investments, according to an official announcement. Additionally, some of these entities are soliciting access to investors’ trading accounts by requesting their login credentials. The BSE emphasized that these individuals and entities lack registration with the BSE and do not possess any Research Analyst Registration.
Investors are cautioned against sharing their trading credentials, such as user IDs and passwords, with anyone for account management or portfolio handling. The BSE highlighted that these schemes carry considerable risks and do not offer any investor protection or dispute resolution options. It recommended that investors verify the registration of intermediaries on its website and utilize the SEBI portal for accessing investor protection and dispute resolution services. Engaging in such schemes is at the investor’s own risk, and they cannot seek recourse from the BSE. The SEBI has also recently warned against unregistered investment advisory services being offered by entities that falsely claim to be registered intermediaries or use counterfeit certificates supposedly issued by the regulator.
To address market abuse, a Market Intelligence portal has been established for market participants to report such activities. Furthermore, the SEBI has prohibited registered intermediaries or their agents from having any financial or non-financial relationships with unregistered entities for promoting or advertising services or products.
