The Bombay Stock Exchange (BSE) on December 19, 2024, issued a notification regarding advisory on Impersonation of Investment Advisors and Unauthorised Market Practices.
The following has been stated: -
•Investment Advisors are urged to monitor social media and websites for impersonation cases where fraudsters falsely claim affiliation with financial institutions.
•They should take action by filing FIRs, issuing public notices, and reporting to relevant authorities to remove fake content. Advisors should also notify clients about such impersonations and guide them in verifying offers through official channels.
•The Exchange is updating press releases on its website to raise investor awareness.
The detailed notification is given in the document below.
[Notification No. 20241219-41]
