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Video: Here’s Why Finfluencer PR Sundar Was Fined Rs 6 Crores By SEBI

Content created by financial influencers has come under scrutiny by SEBI for disseminating unchecked information on critical matters like investments

In May this year, the Securities and Exchange Board of India (SEBI) issued an order against the company Mansun Consulting and its promoters, PR Sundar and Mangayarkarasi Sundar, for providing investment advice without obtaining the necessary registrations from SEBI.

PR Sundar is a trader and financial influencer (finfluencer) with over a million followers on YouTube and a large following on Twitter and Telegram as well. As part of the settlement order, Mansun Consultancy, PR Sundar, and Mangayarkarasi Sundar will pay a penalty of over ₹6 crores and are barred from trading in the stock markets for a year.

Content created by financial influencers has come under scrutiny by SEBI for disseminating unchecked information on critical matters like investments, which pose risks of hurting the financial security of viewers. In March, SEBI also issued orders against YouTube channels that were allegedly involved in creating misleading videos with false, paid content worth crores of rupees to lure investors and manipulate share prices.

The stock market regulator’s action against a financial influencer sounds an alarm for other influencers giving financial advice on the internet. This is indicative of the fact that financial influencers’ actions on the internet do not go unnoticed, and SEBI may come knocking on their doors if needed. 

Watch the video to know more about what prompted SEBI’s notice to Mansun Consultancy: 

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Curious about the intersection of technology with education, caste and welfare rights. For story tips, please feel free to reach out at sarasvati@medianama.com

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