Indian regulatory authorities seek to remove unauthorized financial advice on social media

According to government sources and a document, the Indian market regulator is seeking greater power from the government to remove unauthorized financial advice from social media platforms such as WhatsApp and Telegram, and obtain their call records to investigate market violations. This is the second time since 2022 that the Securities and Exchange Commission of India has sought such power, which has not yet been approved by the government. At the time of this request, the Securities and Exchange Commission of India is intensifying its investigation into market irregularities and cracking down on unregulated financial advice circulating on social media. The Securities and Exchange Commission of India stated that despite earlier meetings with regulatory agencies, social media companies have not complied with government requirements to access their call data records, groups, and channels.