Sebi cautions against ‘fake’ asset managers

The regulator, in a statement, recently said that some entities are collecting money from the public claiming to provide PMS services.

Published: 05th October 2022 08:08 AM  |   Last Updated: 05th October 2022 08:08 AM   |  A+A A-

Sebi building, Securities and Exchange Board of India

Sebi. (File Photo | PTI)

By Express News Service

NEW DELHI: Capital market regulator -- the Securities and Exchange Board of India (Sebi) – has cautioned the public against unauthorised money mobilisation by entities claiming to provide Portfolio Management Services (PMS).

The regulator, in a statement, recently said that some entities are collecting money from the public claiming to provide PMS services. These entities have been luring the public, with a promise of high returns, through pamphlets and social media platforms. 

According to the Sebi, these entities have been mobilising money in relatively smaller amounts and promising assured returns. 

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