The Bombay Stock Exchange (BSE) on January 19, 2024, issued a notification regarding performance/return claimed by unregulated platforms offering algorithmic strategies for trading.
The following has been stated: -
•SEBI circular ref. no. SEBI/HO/MIRSD/DOP/P/CIR/2022/117 dated September 02, 2022, and Exchange notice no. 20220907-46 dated September 07, 2022, and 20220921-68 dated September 21, 2022, regarding performance/return claimed by unregulated platforms offering algorithmic strategies for trading.
•The provisions of the notices are reiterated, and Members are advised to refrain from undertaking the following:
a.Directly or indirectly make any reference to the past performance or expected return out of algorithmic trading services/strategies in any form of advertisements/business communication on publicly accessible platforms such as social media/websites/digital & print media etc.
b.Directly or indirectly associated with any platform providing any reference to the past or expected future return/performance of the algorithm.
The detailed notification is given in the document attached below.
[Notice No.20240119-55]
