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Finfluencers use their channels to promote or recommend stocks to investors-- without being registered with Sebi--and then guide them to certain brokerages via links.
Market regulator Securities and Exchange Board of India (SEBI) has asked Kabir Financial Services Pvt Ltd (KFSPL) and its directors, Sayyed Shujauddin and Farhat Perween to deposit in an escrow account Rs12.84 crore collected in just two years from investors via its unregistered investment advisory services business.
Sebi has passed an interim order and the investigators have said that “educational purpose” does not exonerate such entities