New SEBI regulation restricts unauthorized advice on securities.

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Full Text of the Document

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....This notification amends the Securities and Exchange Board of India (Intermediaries) Regulations, 2008, by inserting a new Chapter IIIA titled "Restriction in Dealing with Other Entities." The key provisions restrict persons regulated by SEBI or their agents from having direct or indirect association with individuals providing advice, recommendations or claims about securities without SEBI's permission. Exceptions are allowed for specified digital platforms with preventive mechanisms. The amendment empowers SEBI to take action against violators under Chapter V of the regulations. Relevant definitions of terms like "person regulated by the Board," "association," and "specified digital platform" are provided.....