- Sebi has cracked down on three popular influencers this year
- Young investors in India have thronged social media for tips
India’s legion of financial influencers are once again under the spotlight as the country’s market regulator ramps up action against unregistered advisors dishing out investment tips on social media.
The Securities and Exchange Board of India last week barred Mohammad Nasiruddin Ansari and two other entities linked to him from the market and ordered them to refund 172 million rupees ($2.1 million) taken from followers. Ansari’s YouTube channel has close to half-a-million subscribers. His web portal provided investment advice under the guise of offering educational training, Sebi said.
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