The stock market regulator SEBI (SEBI) is very serious about increasing the safety of shares and funds lying in investors' accounts.
The stock market regulator SEBI (SEBI) is very serious about increasing the safety of shares and funds lying in investors' accounts. SEBI has formed a working group to detect such cases quickly and to prevent them by making a policy accordingly.
The working group will give suggestions to the market regulator on preventing fraud. SEBI has taken this step after huge complaints from investors.
According to information received from sources, SEBI is preparing to take strict steps regarding the safety of investors' accounts. The regulator has formed a working group to suggest measures to curb incidents of fraud with investors. Actually, this working group has been created to repair the app and system of brokers.
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According to sources, additional features will be added to the broker's trading system. SEBI was getting complaints of SIM spoofing/cloning, unauthorized access. Unauthorized, wrong transfer, multiple login is also an important issue in this.
Measures to alert customers on change of contact details are included to protect investors from fraud. Under this, instant, fast alerts will be available for trading and demat account transactions.
The issue was raised in 'Demat Daaka' Show
In the special show 'Demat Daaka' by Business, the issue of such frauds with investors was raised. SEBI's working group has been formed after huge complaints from investors. Apart from exchanges, clearing, depositories, brokers, trading software developer companies, experts are also included in the working group.