Capital markets regulator Sebi on Monday cautioned investors against unauthorised money mobilisation by entities claiming to provide portfolio management services.
Further, the regulator noted that these entities have been luring the public, with a promise of high returns, through pamphlets and social media platforms. It was observed that in such schemes, the entities have been mobilising money in relatively smaller amounts and promising assured returns, Sebi said in a statement.
The advisory comes after the Securities and Exchange Board of India (Sebi) noted that some entities are collecting money from the public claiming to provide portfolio management services.
Some of the entities have names similar to that of Sebi-registered intermediaries, misleading the public, as though the fund raising is genuine and done by entities registered with the regulator.
Sebi, therefore, cautioned “investors not to fall prey to such unauthorised money collection” and advised them to deal only wit
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