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SEBI wants to Ban Market tips via Sms and Emails

SEBI to ban tips and messages

The Securities Exchange Bureau of India (SEBI) makes a ban on Short Messaging Service (SMS) and Emails for circulating tips on Stock market which does not seem to make much impact.

An internal analysis which was made by SEBI shows the circulation tips via mobile messaging application has increased up to 15 to 20 percent over the past few years. The rise in such instance has lead to making the regulatory action against bulk messages.

“After the order, the intent was to curb the menace of this market malpractice, but such instances have increased. There is a need to review the strategy to tackle those,” said an official.

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The messages are sent to the investors with intra-day tips and inducing claims that invite the prospective investor to make an investment. Right now there are many unauthorized companies which make false advice on stocks and provide free recommendations to investors.

The circular said, “Restriction on providing trading tips via bulk SMS, email, etc. and restriction on soliciting investors by offering schemes/competitions/games/leagues/etc. Related to securities market and covering these activities under the advertisement code as well as under SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003.”

Once the Securities Exchange Bureau of India takes an action, these unofficial consultants need to shut their companies, or they may face legal action. Earlier in August, the SEBI has issued a warning to the investors to not to involve in schemes, leagues, competitions and games related to security markets.

Companies such as Indian Trading League which was endorsed by Cricketer Kapil Dev and Stock Race are running contests and offers gifts which worth Rs. 10 lakh to the investors for participation. On the other hand, Stock Race also gives Mercedes-Benz cars, Harley Davidson bikes, Apple products and gold coins.

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In the month of August, SEBI cautioned investors about online platforms through private placement companies. “Only recognized stock exchanges provide a platform where equity and other securities issued by companies are listed and traded by the provisions of the SCRA,” it added.

Once the SEBI’s new regulation was implemented in a place such as games, contests which are especially gamble that would be banned in India.

Twitter Inc., the Online Social Networking Service Site Ties Up with BSE for Live Updates

Twitter Ties Up with BSE

Twitter, which enables users to post and read the short messages with a limit of 140 characters has tied up with BSE (Bombay stock Exchange). The latest developments will enable the stock market lovers to know the live sensex updates through their Twitter accounts. The Tweets will be very much helpful in the stock exchange business.

The services include Opening and closing sensex index figures, live updates and BSE sensex levels. This is termed as the first such collaboration in Asia between a social media and stock exchange.

BSE India Managing Director Mr. Ashish kumar Chauhan has stated that the effort will make the investors find exact situation in the stock market for the investors and business personnel.

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On the other hand, Twitter India media partnerships official Mr.Viral Jani has stated that the agreement will make the investors to know the information and latest updates of BSE on their fingertips.

For this, Twitter has introduced four new features. Hourly tweets, auto responder tweets for Sensex 30 stock prices, auto direct messages for opening and closing figures of Sensex 30, and a live display photo that will refresh every 2 minutes to project the Sensex figures.

The live updates will be made available during the business hours of BSE i.e., between 9.00 A.M to 3.30 P.M every day. The tweets can be handled through @BSE India for sending the hourly tweets of stock prices of the company, levels and figures of sensex.

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There is also a provision for the investors or businessman to subscribe for the details regarding opening and closing of the sensex figures. #subscribe #companyname or #unsubscribe #companyname to unsubscribe tweet will make this happen. @BSEIndia#designated company name will provide the company’s stock price via an auto-response.

In fact BSE is handling Twitter since 2012 but there is no real information regarding this amongst the investors.