theIASHub | 10 Jun, 2024
Context: The Securities Exchange Board of India’s (Sebi) slapped a fine of Rs 7.75 crore on 11 individuals for allegedly operating a ‘pump and dump’ scheme in the scrip of Svarnim Trade Udyog.
Pump and Dump Scheme
oAcquisition of a significant amount of stock in a thinly traded company, often penny stocks.
oAggressive promotion through various channels to create buzz and attract investors.
oIncreased demand drives up the stock price rapidly, creating the illusion of a valuable investment.
oSell-off at inflated prices, causing the stock price to plummet and resulting in losses for investors.
oSebi's Ban: Pump and dump schemes are completely banned under the Securities and Exchange Board of India's (Sebi) guidelines.
oCrackdown on YouTube Operation: Sebi's crackdown on a YouTube-run share pump-and-dump operation indicates impending regulations on financial influencers (finfluencers) who disseminate investment advice without qualifications.
oAction Against Influencers: Recent actions by Sebi against influencers like Bollywood actor Arshad Warsi and his wife highlight regulatory efforts to curb pump and dump activities facilitated by influential figures.
Impact on investors and the market
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