CS Edge / SEBI

CS Edge – Issue 1: SMS on stock tips from SEBI registered intermediary only?

CS Edge is a weekly newsletter. It is my effort to bring in news from the various regulators including Ministry of Corporate Affairs (MCA), Securities and Exchange Board of India and Reserve Bank of India.


In this issue:

  1. SEBI makes efforts to curb misuse of unsolicited bulk SMS
  2. SEBI introduces Online Mechanism for Securities Market Intermediaries

SEBI makes efforts to curb misuse of unsolicited bulk SMS

SEBI is making continuous efforts to curb misuse of unsolicited bulk SMS sent to investors and general public. Individuals and companies are using bulk SMS service to send stock tips and induce them to invest in a particular stock. These individual / entities are not registered with SEBI.

To protect interest of investors, SEBI has brought this issue to the notice of TRAI.  TRAI has issued notice to all the telecom Service Providers to that SMS about investment advice or stock tips should be allowed to be sent only by SEBI registered investment advisers / stock brokers /  sub-brokers / portfolio managers and merchant bankers.

Click here to read the press release by SEBI.

Click here to read the directions by TRAI.


Online Registration Mechanism for Securities Market Intermediaries

SEBI has introduced an online portal siportal.sebi.gov.in for intermediaries to submit their applications online. This portal allows submission of the application for registration, approval of registration, surrender / cancellation of certificate, any changes in the information provided in the application post registration, submission of reports, etc.

This portal is operational for all intermediaries which includes

  1. Stock  Brokers,
  2. Sub-brokers,
  3. Depository Participants,
  4. Mutual Funds,
  5. Merchant Bankers,
  6. Underwriters,
  7. Registrar to an Issue and Share Transfer Agents,
  8. Debenture Trustees,
  9. Bankers to an Issue,
  10. Credit Rating Agencies,
  11. Investment Advisors,
  12. Research Analysts,
  13. Portfolio Managers,
  14. Venture Capital Funds,
  15. Real Estate Investment Trusts (REITs),
  16. Infrastructure Investment Trusts (InvITs),
  17. Alternative Investment Funds (AIFs),
  18. Custodians
  19. Collective Investment Schemes (CIS)

Click here to read the press release by SEBI.

Read more: A step-by-step guide on how to make an online application to SEBI for RA and IA

 

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