“SEBI’s job is to remove ignorance from markets and not stupidity.” Listen into what Sandeep Parekh, Nithin Kamath say
A consultation paper on regulating influencers was published by SEBI in response to worries about fraud and bad financial advice. On a podcast, Nithin, Abid, and Sandeep Parekh talk about the problem of finfluencers, SEBI's consultation paper, and the difficulties in regulating them.
Finfluencers, also known as financial influencers, have soared in popularity during the past four to five years. While many incredible individuals instruct others in trading and investing, there are also many who spread greed and misguided notions. Recently, capital market regulator Securities Exchange Board of India (SEBI)published a consultation paper on regulating finfluencers.
Furthermore, Kamath added that it is a concern if someone manipulates their profit & loss (P&L) and shows it. There is no way around it: altering a P&L constitutes fraud. If someone posts a screenshot of a P&L, we would prefer to have a Verified P&L rather than a screenshot because at least then someone can't be manipulating the P&L itself by using photoshop, etc. to edit the screenshot.
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