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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
While SEBI is increasingly cracking down on unregistered investment advisers, it has done little to break the ecosystem that nurtures them.
Editor's note: On 30 August, the Securities and Exchange Board of India barred three people from the securities market: Lakhan Chauhan, Rohit Soni and Shivani Thakur. The profiles of the three people make the case interesting. Chauhan was a worker at a petrol pump, Soni ran a gas distribution agency and Thakur was a former manager at a research company. Despite their varying backgrounds, they were proprietors of Indore-based RBS Global Capital, and acted as stock market advisers. Despite not being a SEBI-registered investment adviser, or RIA, the three managed to convince gullible investors and pocketed hefty commissions. An investigation by the regulator showed that bank accounts of the three got deposits of Rs 1.2 crore between October 2017 and July 2020. Apart from the ban on operating in the market, the three have also been ordered to return this money to investors. SEBI was not done. A couple of days later, on 1 September, Piyush Shambharkar of The Profit Sharing was also barred from the securities market, and was told to refund Rs 1.98 crore that he had received between 23 …
While SEBI is increasingly cracking down on unregistered investment advisers, it has done little to break the ecosystem that nurtures them.
Editor's note: On 30 August, the Securities and Exchange Board of India barred three people from the securities market: Lakhan Chauhan, Rohit Soni and Shivani Thakur. The profiles of the three people make the case interesting. Chauhan was a worker at a petrol pump, Soni ran a gas distribution agency and Thakur was a former manager at a research company. Despite their varying backgrounds, they were proprietors of Indore-based RBS Global Capital, and acted as stock market advisers. Despite not being a SEBI-registered investment adviser, or RIA, the three managed to convince gullible investors and pocketed hefty commissions. An investigation by the regulator showed that bank accounts of the three got deposits of Rs 1.2 crore between October 2017 and July 2020. Apart from the ban on operating in the market, the three have also been ordered to return this money to investors. SEBI was not done. A couple of days later, on 1 September, Piyush Shambharkar of The Profit Sharing was also barred from the securities market, and was told to refund Rs 1.98 crore that he had received between 23 …
Thinly traded listed entities have long served as breeding grounds for stock manipulation, hurting investors. The regulator, the NSE and BSE now want to fix things by focusing on efficient delisting.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
Thinly traded listed entities have long served as breeding grounds for stock manipulation, hurting investors. The regulator, the NSE and BSE now want to fix things by focusing on efficient delisting.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
