SEBI cracks down on pump and dump scams on social media
SEBI is killing it with these enforcement orders 🔥
Yesterday’s against the pump & dump schemes peddled by selling greed & unrealistic returns through social media & YouTube should serve as a powerful deterrent. These scams had become the easiest game in town for manipulators.
These elaborate orders should hopefully put some fear amongst unauthorized tipsters and people offering unauthorized portfolio management services. Such actors damage the sanctity of capital markets in India.
At Zerodha, we show a nudge, asking users to be careful when we spot cases of pump and dump.
In the last 3 years of nudges, potential scammy stock trading volumes as a percentage of overall equity volumes are down by ~90% at Zerodha.
The links to SEBI orders are available here.