Sebi turns up heat on financial influencers as stocks boom

India's market regulator, the Securities and Exchange Board of India (Sebi), is cracking down on unregistered financial influencers providing investment advice on social media. Sebi has barred Mohammad Nasiruddin Ansari and two other entities from the market and ordered them to refund $2.1 million taken from followers. This is the latest in a series of actions against financial influencers in India, as the retail trading boom during the pandemic has led to a surge in young investors seeking stock tips on social media.

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