Clipped Influence
Business Today India|June 25, 2023
‘Finfluencers’ have amassed millions of followers. They are now firmly on the radar of markets regulator Sebi
ASHISH RUKHAIYAR
Clipped Influence

IT WAS A long time coming. Financial influencers, or ‘finfluencers’ in market parlance, had been under the scanner for a while. Government officials and regulatory bodies—across the globe—had thought long and hard on ways to regulate the actions of these individuals as some of them had assumed cult status with millions of followers on social media platforms.

Besides, the regulators had to act fast to ensure that unsuspecting investors would not end up losing money because of biased or unfair advice or recommendations.

Finally, capital markets regulator Securities and Exchange Board of India (Sebi), on May 25 sent a strong signal to finfluencers. It barred P.R. Sundar, a finfluencer with over a million followers on YouTube, from the securities markets for a year for allegedly providing advisory services—daily stock investment/trading calls— without registering with the regulator. He was also directed to disgorge the fees that he had taken—along with interest—that amounted to ₹6.08 crore.

Simply put, a finfluencer is a person who influences the financial investment decisions of his/her followers by doling out advice or recommendations. Such advice could be for stock investment, financial planning, or just about anything related to the manner in which one should invest his or her money.

CULT STATUS

Denne historien er fra June 25, 2023-utgaven av Business Today India.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra June 25, 2023-utgaven av Business Today India.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BUSINESS TODAY INDIASe alt
The EV Craze
Business Today India

The EV Craze

The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly

time-read
5 mins  |
November 10, 2024
The Storage Boom
Business Today India

The Storage Boom

Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?

time-read
8 mins  |
November 10, 2024
India Beckons
Business Today India

India Beckons

Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before

time-read
4 mins  |
November 10, 2024
The Pearls of The Sea
Business Today India

The Pearls of The Sea

Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it

time-read
4 mins  |
November 10, 2024
66.Brand persona should define the core"
Business Today India

66.Brand persona should define the core"

I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.

time-read
1 min  |
November 10, 2024
Unwind in Style
Business Today India

Unwind in Style

Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury

time-read
3 mins  |
November 10, 2024
A Lifelong Affair with Inspiration
Business Today India

A Lifelong Affair with Inspiration

In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art

time-read
3 mins  |
November 10, 2024
Make it Bubbly
Business Today India

Make it Bubbly

Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles

time-read
4 mins  |
November 10, 2024
Palatial Splendour
Business Today India

Palatial Splendour

Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers

time-read
7 mins  |
November 10, 2024
Of Beaches and Cream
Business Today India

Of Beaches and Cream

GianChand Single Malt Whisky

time-read
1 min  |
November 10, 2024