Indian regulators seek to remove unauthorized financial advice on social media

ChainCatcher news, messages from the Indian government, and a document show that India's market regulator is seeking greater powers from the government to remove unauthorized financial advice from social media platforms like WhatsApp and Telegram, and to obtain their call records to investigate market violations. This is the second time since 2022 that the Securities and Exchange Board of India (SEBI) has sought such powers, and it has not yet received government approval.

This request comes as SEBI intensifies its investigation into market violations and cracks down on unregulated financial advice circulating on social media. SEBI stated that despite earlier meetings with regulatory bodies, social media companies have not complied with the government's request to review their call data records, groups, and channels.