Stocks

Twitterati troll SEBI for proposing to curb trading tips through social media

Our Bureau Chennai | Updated on January 15, 2018

sebi

Observers feel reaction on Twitterunwarranted

Some active Netizens used Twitter accounts to vent their anger on market regulator SEBI for proposing to curb investment tips through social media.

In a consultation paper last month, the Securities and Exchange Board of India proposed a ban on communicating unauthorised trading tips through SMSes, WhatsApp, Twitter, Facebook and other social media platforms in order to protect investor interest.

The paper is open for public comments till November 4.

Slew of hashtags

Till late evening hashtag "‘#SEBIgoback’" was top trending with Twitter users pouring their feelings.

Another ‘SEBIkidadagiri’ was also among the top trending hashtags on Twitter on Tuesday.

Over two thousand comments were aired on Twitter, voicing their concerns about the proposals. More aggressive comments came in from a number of women participants.

“SEBI has forgotten its role of developing the stock market by banning Twitter, competition, etc,” said Varsh Singh.

Prerna Dawar tweeted: “All this wasn’t expected from SEBI at all.”

“SEBI saying that ALL stock market schemes are Fraudulent practices,” wondered Kajol Saxena.

‘Impossible to enforce’

One tweet said: “SEBI’s first error is assuming a common man can distinguish btwn MF Distributor, IA, etc. The proposal is impossible to enforce.” But a few market observers lashed out Twitteratis for taking on SEBI through social media. “When SEBI’s consultation paper is open for public comments, instead of expressing their views through formal channel, some people are resorting to such a cheap gimmick,” said Ramesh Chordia, independent analyst based at Chennai.

“See the tweets of MFs #sebigoback handles never ever tweeted abt MFs b4. Many tweets are same words! Is someone manufacturing these trends?” tweeted Manoj Nagpal.

Published on November 01, 2016

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