New Delhi: The National Stock Exchange (NSE) Friday asked investors not to trade in the securities markets based on the trading tips provided by unregistered investment advisers and portfolio managers.
The advisory comes after the NSE found that individuals Swaraj Takale, Sameer Narvekar and Neha Narvekar associated with an entity named ‘Trade with Jazz’ were collecting funds from the public by providing securities market tips and investment plans assuring guaranteed returns on the investment made.
Also, NSE noted that an individual – Bhavika Patel – was offering guaranteed returns to investors through investment schemes.
The bourse pointed out that these persons are not registered either as a member or authorized persons of any registered member of the NSE.
Cautioning investors, NSE asked investors not to trade in the securities markets based on the tips or recommendations provided by unregistered investment advisers or portfolio managers. Investors should not get lured by such trading tips and stock-specific recommendations.
“The investors are also cautioned and advised not to subscribe to any such scheme/ product offered by any persons/entity offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law,” NSE said in a statement.
For any kind of disputes relating to such prohibited schemes, mechanisms such as benefits of investor protection under the exchange’s jurisdiction, exchange dispute resolution mechanism and investor grievance redressal mechanism administered by the exchange, would not be available to investors, it added.
-PTI
