SEBI Mumbai/IBNS: The Securities and Exchange Board of India (SEBI) on Thursday said it was working on framing guidelines for financial influencers, also called finfluencers, who offer unsolicited financial advice on various social media platforms, media reports said.
SEBI whole-time member S.K.Mohanty said as quoted by media, "We are working on guidelines for financial influencers."
Mohanty made the comment on the sidelines of the Confederation of Indian Industry National Conference.
Earlier on Mar 10, the SEBI had cracked down on market operators for allegedly manipulating the stock market through social media platforms.
In January, SEBI had given an order against six people who were involved in giving advice, manipulating stock prices and making illegal profits.
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