NEW DELHI: Stock exchange BSE Limited on Tuesday warned investors about an individual identified as Aditya Rishab Mishra offering illegal services and cautioned investors to stay away from products offered by him. Aditya Rishab Mishra is allegedly offering investment and trading recommendations and account‑handling services without necessary SEBI registration, an official release said.
"Please note that these individuals/entities are neither registered as member nor as Authorised Person of any registered member of the BSE Limited. The Exchange provides a facility to verify the registration of Exchange intermediaries at following links on the Exchange website," the statement said.
Investors were advised not to share their trading credentials such as user id/password with anyone for trading in their account/handling of the portfolio.
BSE warned that these schemes involve significant risks and do not provide access to investor protection or dispute resolution mechanisms. It urged investors to check registration of its intermediaries, or enlistment of Investment Advisors (IA) or Research Analysts (RA) on its website.
BSE had repeatedly urged investors to use SEBI’s portal to access investor protection and dispute resolution services. However, participation in such prohibited schemes is at investors' own risk, cost and consequences as such schemes are neither approved nor endorsed by the Exchange.
SEBI had also recently alerted unregistered investment advisory services being provided by entities that falsely claim to be registered intermediaries with SEBI or by showcasing fake certificates purportedly issued by the regulator.
In order to combat market abuse, a Market Intelligence portal has been developed for market participants to provide inputs pertaining to market abuse.
SEBI had banned its registered intermediaries or their agents to have any association or relationship in any form, whether monetary or non-monetary, for any promotion or advertisement of their services or products, with any unregistered entities.