Investment advice through SMS can be cheese in a mousetrap : Mobilising investors and luring them into their investment schemes through Short Message Services (SMSs) has become a common practice in both investment advisory and fund management space. While representatives of well-known registered firms also update investors about their schemes, it has become a grey area and investors need to be very careful before they fall into a trap and end up losing their hard earned money. Having passed several orders against illegitimate collective investment schemes such as that of Saradha Group, Sumangal Industries and Rose Valley Group among others over the last few months, Sebi last week passed an order against certain entities that were engaged in offering investment advisory and portfolio management services through Short Message Services (SMSs) without getting themselves registered with the market regulator.
Posted on: Tue, 27 Aug 2013 06:16:39 +0000
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