Mumbai: The Sebi has removed over 70,000 misleading social media posts and handles since October last year, by working with social media companies, a senior official said on Friday. “…a common worry for all of us is the menace of unregistered investment advisers and research analysts who are cashing in on rising interest in investments,” Sebi whole time member Ananth Narayan said.

He was speaking at an event organised by the Association of Registered Investment Advisors (ARIA).

“The Sebi proposal to use the UPI ‘Payright’ handle to help clearly identify Sebi registered entities is one way to ensure that we create a gated virtual community of registered entities that enhances investors’ trust and protects them from fraudsters,” Narayan said. He said there is a need for many more investment advisers and research analysts and also the need for self-regulation. “The practitioner community understands ground realities much better and much quicker than the regulators do.”