Sebi Approves Norms for FinFinfluencers: Regulating Unregistered Financial Influencers
Jun 27, 2024 19:20
Sebi board approves norms to regulate finfluencers to address risks of biased or misleading advice. The regulator also introduced delisting frameworks for frequently traded shares and IHCs.
Photograph: Shailesh Andrade/Reuters
Mumbai, Jun 27 (PTI) Capital markets regulator Sebi on Thursday approved norms to regulate unregistered financial influencers, also referred as finfluencers.
The move comes amid growing concern over the potential risks associated with unregulated finfluencers who might offer biased or misleading advice. They usually work on a commission-based model.
To address the risk associated with finfluencers, Sebi board approved a proposal to regulate such finfluencers.
The regulator decided to introduce a fixed price process for delisting of frequently traded shares and also introduced a delisting framework for Investment and Holding Companies (IHC), Sebi said in a statement issued after the board meeting here.
Further, the regulator cleared a proposal to remove financial disincentive for MD and CTO of exchanges, other market infrastructure institutions (MIIs) due to technical glitch.
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