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TRAI directs telecom operators to block text messages on investment tips on insistence of SEBI

August 11, 2017

 

The Telecom Regulatory Authority of India (TRAI) has directed telecom operators to block misleading text messages offering investment tips on the insistence of the Securities and Exchange Board of India (SEBI) to protect the interests of investors.

According to TRAI, SEBI has expressed concern on the rising amount of misleading investment tips being circulated through text messages, which often lead to fraud. Further, the regulator has asked operators to maintain the records of registered investment advisors and telemarketers to ensure that only SEBI-registered entities are allowed access. These registered entities would be allowed to send transactional messages, which should not be promotional in nature either directly or through a registered telemarketer.

In addition, TRAI has asked telecom operators to block text messages sent by telemarketers containing key words such as ’sell, hold, accumulate, target, followed by scrip name/code provided by any stock exchange’.

 
 

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