Home NewsStock Market News Sebi: Sebi asks MFs to be vigilant against fraud groups on Telegram app, take action if needed

Sebi: Sebi asks MFs to be vigilant against fraud groups on Telegram app, take action if needed

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Sebi: Sebi asks MFs to be vigilant against fraud groups on Telegram app, take action if needed


The Securities and Exchange Board of India has asked mutual fund houses to be vigorous against dubious groups misrepresenting themselves as registered fund managers on messenger platform Telegram, ET Now reported.

The word of caution from the regulator comes following observations of such acts on the platform where certain groups have been misusing and misrepresenting some asset management companies.

According to reports, the regulator has mentioned some of the Telegram groups misrepresenting mutual fund houses.

Doubling Mutual Funds had 90,818 users, and Paytm Doubling Funds Mutual 86,435 users.

If an AMC comes across any activities or posts on social media that are dubious in nature, it should be prompted in taking appropriate actions and make it public and file a police complaint, the regulator said.

Sebi has also asked fund houses to sensitize stakeholders such as distributors, brokers and investment advisors and ensure proper due diligence.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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