Monday, July 22, 2024
89.7 F
Peshawar

Where Information Sparks Brilliance

HomeBusiness'You Really Think Sebi Is Dumb?' Chairperson Madhabi Puri Buch Warns Finfluencers,...

‘You Really Think Sebi Is Dumb?’ Chairperson Madhabi Puri Buch Warns Finfluencers, Algo Traders – News18


Sebi Chairperson Madhabi Puri Buch. (File Photo)

Sebi Chairperson Madhabi Puri Buch says investors often work against their own interest from these get-rich-quick schemes and finfluencer videos

Sebi Chairperson Madhabi Puri Buch has warned finfluencers and algo traders about wrong assurances on return on investment, and asked investors to be very careful about fact vs fake. On algo traders claiming 300 per cent returns per annum, the Sebi chairperson said, “You really think Sebi is so dumb?”

“We have to be very careful about fact vs fake. We all know algo players claim 300 per cent returns per annum by using their algo. You really think Sebi is so dumb?… when we ask them what is the basis for this, they have done a retrofit of the data and on the basis of that, they say 300 per cent return per annum… humko itna bawakoof samajh rakha hai (they think we are so dumb). Your modelling data and your data have to be different. If you retrofit on the same data, of course you will arrive at the 300 per cent return figure,” she said.

The Sebi chairman was addressing the Association of Registered Investment Advisors’ Financial Planning and Investment Advisory Conference held in Mumbai on Wednesday.

She also said investors often work against their own interest from these get-rich-quick schemes and finfluencer videos. “The thumbtexts of videos are all about how my student has made Rs 15 crore in the last 1 year, and how my student made Rs 5 lakh yesterday, etc. Any of the claims that you see on social media today, do you believe a single one of them?”

The Sebi chairman said there are dozens of cases of illegal PMS being carried out today.

She said 35 per cent of investment advisers are not registered with Sebi, despite having an easy registration process. “We want the association to be proactive and come to Sebi in case of any malpractices and help the regulator craft solutions.”



Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

 

Recent Comments