Finance content creator Akshat Shrivastava has said that mainstream media should also be folded into the same kind of regulation and scrutiny in the financial education sector as influencers are currently facing from the Securities and Exchange Board of India (SEBI).
What Happened: In a tweet, Shrivastava said he was willing to adhere to any regulations set by SEBI, including taking an exam or showcasing an audited profit and loss statement.
However, he also argued that mainstream media, where discussions about stocks and other financial products are frequent, should be held to the same standards and scrutiny.
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Why It Matters: SEBI has recently begun looking into potential malpractice by finfluencers and online finance educators in terms of promoting certain stocks and cryptocurrencies in exchange for payments or providing investment advice without SEBI registration.
The market watchdog has even proposed that SEBI-regulated entities should be barred from associating with unregistered influencers for marketing and promoting their products.
Shrivastava’s stance underscores the call for a level playing field in the finance education sector, whether individual educators to large media houses. His call for consistent regulation suggests that educated and competent individuals who operate transparently should have nothing to fear.
Further, Shrivastava emphasised the need to simplify the process of obtaining a SEBI license, indicating that a streamlined process would encourage more educators to come forward and adhere to the set standards.
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