SEBI has noticed a rapid increase in frauds related to securities market on various social media platforms. The perpetrators of such frauds are enticing victims in the name of providing online trading courses, seminars, giving misleading or deceptive testimonials, promise or guarantee of assured or risk free return through these platforms, the regulator said on Friday.
To tackle this, all SEBI registered intermediaries uploading and publishing advertisements on Social Media Platform Providers like Google and Meta (to start with), will be required to register on such social media platforms using their email ids and mobile numbers registered on SEBI SI Portal. These providers will carry out advertiser verification of these intermediaries after which these will be permitted to upload or publish advertisements on these platforms.
