BSE, NSE ask investors to deal with only registered stockbrokers

Leading stock exchanges National Stock Exchange (NSE) and Bombay Stock Exchange  (BSE) on Friday asked investors to deal with only registered stockbrokers amid instances of unregistered entities targeting gullible investors with false promises of exorbitant returns.

The exchanges have advised investors to refrain from any investments/dealings arising out of a contract in securities that are not permitted under the rules. In separate statements, both the bourses have asked investors not to transfer funds or securities to stockbroker under any arrangement or agreement of assured or guaranteed returns. The advisory came after the exchanges noticed that some unregistered entities and unregulated internet-based platforms are targeting gullible investors with false promises of high/exorbitant returns on their investment schemes or products.

"Investors are advised to deal only with Sebi-registered stockbrokers and check the registration details of the said entity they are dealing with since it allows recourse to regulatory action," BSE and NSE said.

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