On Tuesday, BSE Limited warned investors about four unregistered organizations offering illegal financial services, urging the public to steer clear of any plan or product being proposed by them.
The organizations—Money Talks with Payal, NSE Stock Pro, PTS Prabhat Trading, and PTS Prabhat Trading Service—are said to be operating on Telegram and Instagram, providing stock market tips or guaranteed returns on investment, as per an official announcement.
These organizations are also requesting investors to provide their login details of their trading accounts in order to operate their portfolios, the exchange added.
BSE explained that these organizations are not registered with the exchange and do not possess any Research Analyst Registration.
Investors were warned not to give their user IDs or passwords to anyone for trading or portfolio management. The stock exchange clarified that such plans are risk-prone and do not entitle them to investor protection or redressal facilities.
BSE advised investors to verify the registration of intermediaries on its official website and to use SEBI’s portal for investor protection and dispute resolution services. Participation in these schemes is entirely at the investor’s own risk, and no claims can be made against the BSE.
The warning comes amid SEBI’s recent alerts regarding unregistered investment advisory services that falsely claim registration or display counterfeit certificates.
In order to check market abuse, SEBI has introduced a Market Intelligence portal through which market players can report suspicious activity. SEBI has also banned its registered intermediaries or agents from joining in any manner—monetary or otherwise—with unregistered parties for promoting products or services.
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