Regulatory scrutiny is increasing over stock market advice being provided to retail investors in India through social media. The National Stock Exchange said that the Telegram channel named "NSE Stock PRO (Profit Everyday)" is not affiliated with the exchange in any way, and such offers of purported fixed or guaranteed returns are prohibited by law.
Highlights
- NSE warned investors to stay away from stock tips schemes promoted by the Telegram channel called 'NSE Stock PRO (Profit Everyday)'.
- The exchange advised investors not to share trading credentials and to use only the verification facility for registered brokers.
- NSE clarified that investor protection, dispute resolution, or grievance redressal mechanisms will not be available for investments in such illegal schemes.
This article was translated from the original. Read the original version by our correspondent here.
Scope of the warning and investor precautions
According to a notice issued by the National Stock Exchange of India (NSE), the Telegram channel named "NSE Stock PRO (Profit Everyday)" is providing securities market tips for stock market investments. The exchange advised investors to stay away from any such scheme or product that claims indicative, assured, or guaranteed returns, as such offerings are prohibited under the law.The exchange also said that investors should not share their trading credentials, such as user IDs and passwords, with anyone. It clarified that the mentioned link or channel has no connection with NSE.
Verifying registered brokers and risks
NSE has advised using the "Know/Locate your Stock Broker" facility available on its website so that investors can verify details of registered members and their authorised persons. According to the exchange, details of client bank accounts declared by trading members are also available under the same link, enabling investors to verify them before receiving or making payments.The exchange said that participation in such prohibited schemes will be at investors' own risk, cost, and consequences, as they are neither approved nor endorsed by NSE. In such cases, investors will not have access to measures such as investor protection, dispute resolution mechanisms, and investor grievance redressal mechanisms under the exchange's jurisdiction.
Our previous report highlighted NSE's advice to distance themselves from the Telegram channel 'Option Gyan' and its statement that claims of assured/guaranteed returns are prohibited by law. NSE had then clarified that investors who engage with such unauthorised schemes may be deprived of measures such as the exchange's investor protection, dispute resolution, and grievance redressal mechanisms.
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