SEBI alert on fake calls on investment

Investors beware: regulator has received complaints

GN Bureau | January 10, 2013



The market regulator Securities and Exchange Board of India (SEBI) has warned people against fraudulent calls made in the name of the organisation giving advice on financial products. It has also said that it has taken several measures to make people aware about such fraudulent acts.

In a press release issued on Thursday, it said, “The attention of the public is drawn to the fact that SEBI neither offers any investment advice or recommend any investment products/schemes nor seeks any personal information of investors for this purpose.”

For a couple of months, the market regulator has been receiving complaints that certain agencies and people have been offering advice on financial products in the name of SEBI officials.

It warned, “If any prospective investor is contacted by any person purporting to be a SEBI official and offering such investment advice or seeking such information, individuals may not entertain such calls and deny him/her such access and verify the details of such purported official from SEBI website.”

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