Did BSE Address 85 Investor Complaints Against Companies in November?
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Synopsis
In November, the Bombay Stock Exchange (BSE) resolved complaints from investors against various companies. With 99 complaints received, the BSE assures investors of its commitment to transparency and security, while warning against unauthorized entities misrepresenting their services. Stay informed to protect your investments!
Key Takeaways
- BSE resolved 85 complaints in November.
- A total of 99 complaints were received against 84 companies.
- Investors should be cautious of unauthorized entities.
- Verification of financial advisers is crucial.
- Guaranteed returns in the stock market are illegal.
Mumbai, December 1 (NationPress) The Bombay Stock Exchange (BSE) announced on Monday that it addressed a total of 85 complaints concerning 67 companies throughout November, following the reception of 99 complaints against 84 companies during the same timeframe.
Among the resolved complaints, several were carried over from prior periods.
Last month, the stock exchange cautioned investors regarding an unauthorized entity known as EZInvest for disseminating trading and investment advice while also soliciting funds from the public for equity market activities.
The BSE stated, "It has come to the notice of the Exchange that the aforementioned entity is allegedly involved in unauthorized activities, such as providing investment recommendations without having the necessary registration with SEBI or the Exchange and collecting funds from investors for trading various securities, including Indian Listed Equity Shares."
The exchange emphasized that this entity is not a registered member of the BSE, urging investors to verify the credentials of any adviser before acting on their suggestions.
"Please be aware that these individuals or entities are neither registered as members nor as authorized representatives of any registered member of BSE Limited. The Exchange offers a facility to confirm the registration status of Exchange intermediaries on its official website," it added.
Investors are advised against subscribing to any schemes or products proposed by individuals or entities that promise indicative or guaranteed returns in the stock market, as such practices are against the law, the BSE warned.
Previously, the BSE alerted investors about fraudsters using images of BSE officials to create counterfeit social media accounts aimed at spreading deceptive wealth advice.
"We have been made aware that images of senior BSE officials are being misused to set up fake social media profiles. These profiles claim to offer wealth management advice to mislead unsuspecting investors," the stock exchange stated.
BSE officials are prohibited from initiating or endorsing any wealth management or advisory services in any capacity; nonetheless, investors should remain vigilant against such fraudulent misrepresentations.
Point of View
The recent efforts by the Bombay Stock Exchange to resolve investor complaints demonstrate their commitment to maintaining transparency and protecting investors. As we navigate an ever-evolving financial landscape, it is crucial for investors to stay informed and cautious about unauthorized entities. The BSE's warnings serve as a timely reminder to practice due diligence in financial dealings.
NationPress
02/12/2025
Frequently Asked Questions
What is the total number of complaints received by BSE in November?
The Bombay Stock Exchange received a total of 99 complaints against 84 companies in November.
How many complaints did BSE resolve in November?
In November, the BSE resolved 85 complaints concerning 67 companies.
What warnings did the BSE issue to investors?
The BSE warned investors about an unauthorized entity, EZInvest, and advised them to verify the credentials of any financial adviser before acting on their recommendations.
What should investors avoid according to BSE?
Investors are cautioned against subscribing to any schemes or products that promise guaranteed returns in the stock market, as these are prohibited by law.
What fraudulent activities has BSE warned about?
The BSE highlighted that fraudsters have been using images of BSE officials to create fake social media accounts to mislead investors.
