The Securities and Exchange Board of India (Sebi), the country’s capital markets regulator, on Monday extended the deadline till November 30 for public comments on proposed norms to regulate trading tips, including through social media platforms. The last date has been extended after taking into consideration, representations from various quarters as the initial deadline ended on November 4.
On October 7, the Securities and Exchange Board of India issued the consultation paper proposing a slew of curbs on unsolicited investment advice and promotion of investment products through electronic and broadcasting media platforms.
“Based on the representations received from various bodies and associations seeking extension of the timeline to furnish the comments/suggestions, it has been decided to grant the time till November 30, 2016 for submitting the comments on the aforesaid consultation paper,” Sebi said in a notice. The proposals are to amend Sebi (Investment Advisers) Regulations, 2013. After its board meeting in September, Sebi proposed to ban unauthorised trading tips through SMSes, WhatsApp, Twitter, Facebook and other social media.