NSE Circular on: Caution towards dealing with unsolicited videos and messages circulated in Social Media
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21-10-2022 |
NSE |
Caution towards dealing with unsolicited videos and messages circulated in Social Media |
Unauthorised Market Practices |
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Highlights of NSE Circular dated October 21, 2022 Caution towards dealing with unsolicited videos and messages circulated in Social Media
NSE has also referred its earlier circulars cautioning market participants on unsolicited messages being circulated.
NSE has further informed that based on the unusual price/ volume variation and other factors as deemed fit by the Exchange such scrips may be shortlisted for surveillance action which may inter alia include reduction of price band, levy of additional margins, shifting the scrip in Trade for Trade segment, including the scrip in Periodic Call auction framework, etc. It may be noted that the shortlisting of securities in above mechanism is purely on account of market surveillance, and it should not be construed as an adverse action against the concerned company.
NSE has also shared list of scrips shortlisted based on circulation of videos and unusual price/ volume movement and informed that the surveillance actions will be effective from October 31, 2022.
NSE has advised the Members to monitor unusual trading pattern by any of their clients / group of clients having significant selling / trading / dealing concentration in relation to circulation of such videos / messages. Trading members are also required to educate their clients / investors by way of social media / SMS campaigns / mailers, etc. advising clients / investors to beware of unregistered Investment advisors, offering assured returns and seeking trading credentials.
Any non-compliance in the matter shall be viewed seriously and may attract further action which may inter alia include disciplinary action as deemed fit in terms of Rules, Byelaws and Regulations of the Exchange provided the facts and circumstances so demand.
NSE Circular No. NSE/ INVG/54165 dated October 21, 2022 is enclosed herewith for your ready reference In case of any clarification or assistance required in implementation of this circular you may contact Vandana Vania– van...@secmark.in / 9223303460 Kaushik Jethwa – kau...@secmark.in / 9870210171 |
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