Sebi finalising draft discussion paper over guidelines for ‘finfluencers’

The Securities and Exchange Board of India (Sebi) is preparing a discussion paper to regulate unregistered financial influencers, or finfluencers, who offer investment advice to the public. Sebi’s chairperson, Madhabi Puri Buch, stated that the paper should be ready for public comments within the next few months. The move follows the income tax department’s issuance of notices to top social media influencers for unpaid taxes and recent searches on the top YouTubers in Kerala for similar offenses. Sebi aims to regulate finfluencers who offer unsolicited investment advice without proper registration.