We need to become stricter in enforcing KYC when forum abuse is flagged/suspected/detected.
We understand the legitimate constraints of many industry professionals. We have allowed folks to use generic/pseudonyms for their display names and/or hide email details, and so on.
In the earlier carefree days of VP infancy in 2010 and 2011, we were quite okay with this. But from 2012 when VP started seeing rise in Membership and a modicum of TRUST building up, we also started seeing examples of Forum Abuse – completely one-sided agenda-pushing posts to well-disguised agenda-pushing.
Our seniors and well-wishers alerted us to this and sensitised us to the great responsibility we carry in safeguarding the interest of newbies and learners who come to VP with a lot of Trust and Admiration. They must be saved from being taken for a ride.
Since then you must have noticed we have put in place
a) a stricter KYC norm – we normally do not allow pseudonym registrations.We ask the guys to re-register with complete identity details (which will be hidden and for Admin use only, if needed), but they can choose display names of their choice and not disclose emails and so on
b) we have made it mandatary for prolific contributors to any business thread to provide disclosures at time of entry/exit
c) we have made a mandatory Code of Conduct for those who work on Management Q&As, Stock Story or BQ & MQ Sheets – to also provide disclosures in conformance with SEBI Analyst guidelines – no transactions in prior 30 days of publication of any of these influencing pieces (even though these are not research reports. We have also made it mandatory for these folks to disclose quantum and recency of holding
All these so that we can protect the newbies and learners who may be naively trusting, and may not be aware of the usual pitfalls/mal-practices that are rampant in our markets. VP being an open forum we cannot ensure that bad apples will not threaten the whole credibility/reputation of the wonderful platform and community that we have today.
It’s been our experience that whenever there is foul-play or suspicion of foul-play, the best deterrent has been to check the KYC of the alleged offender, arrange for a photograph of the person to be uploaded, arrange for a senior VP Member/Moderator to do a face-to-face interaction with the person to hear his side of the story, assess and take a considered decision as appropriate.
If there is no ulterior motive and if there is nothing to hide, maybe a mistake or two has been made without understanding implications severity – usually folks have agreed to our suggestions and things have been resolved to mutual satisfaction.
Sometimes these measures also do not work !
Will start sharing some examples of such instances – as it becomes important to ensure there is no one at VP who does not understand why establishing KYC is important for Team VP – its to ensure the very survivability of VP Community – the Trust and Credibility – it has come to be associated with.
As a policy we do not want to engage in “public shaming” ever – unless we find gross abuse/gross defiance that just cannot be left unaddressed/should not be left unaddressed. Rather such instances should be made an example of to ensure the most effective deterrence – folks will know such activities on their part will lead to certain consequences/withdrawal of privileges
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