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    India’s National Stock Exchange Cautions Investors Against Fake Videos of CEO

    Fabricated videos related to advisories and stock investment featuring National Stock Exchange’s (NSE) CEO Ashivinikumar Chauhan’s face and voice, as well as the NSE Logo, are being circulated on social media platforms, according to a press release by the NSE dated June 10, 2024. In the release, NSE cautioned people against viewing and being influenced by these false clippings, which they said were created using sophisticated technologies. Notably, NSE employees are not authorized to comment on or offer recommendations about any stocks.

    What is NSE’s Stance on the Incident?

    NSE advised people to refer only to the official sources of information, such as their official website, and social media handles and to verify information that appears to be from the NSE or its officials, from these sources. The NSE stated in its press release that it requests the platforms responsible for spreading such objectionable audiovisual content to take it down whenever possible. However, they did not specify how exactly they do so and their means of dealing with this particular incident.

    Past Instances of Misleading Financial Content

    Although there have not been too many incidents where entire videos have been fabricated to mislead investors, concerns have been raised about problematic content regarding financial investments, including those relating to the stock market, proliferating on social media and on platforms such as YouTube.

    These often involve social media influencers or “finfluencers” (financial influencers), some of whom have been found to manipulate data around their profit and loss statements to earn false credibility with followers and to get them to use trading platforms recommended by them.

    In light of these instances, the Securities and Exchange Board of India (SEBI) proposed to ban its regulated entities, such as trading platforms, merchant bankers and brokers, from engaging with unregistered finfluencers, effectively preventing those finfluencers who are not registered with SEBI from getting a referral bonus from trading platforms.

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    The post India’s National Stock Exchange Cautions Investors Against Fake Videos of CEO appeared first on MEDIANAMA.

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