SEBI to direct brokers, mutual funds to limit use of financial influencers
A surge in retail investors in equity markets during the COVID-19 pandemic led to a proliferation of influencers pushing financial advice on social media platforms. The regulator will ask brokers, traders registered with it and mutual funds to stop associating with financial influencers who are seen to be giving misleading advise and inducing investors, said the first person, a senior regulatory official.
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