Market regulator Sebi on Friday cautioned investors about fraudulent trading schemes being circulated on social media and mobile apps that falsely claim to offer stock market access through foreign portfolio investors (FPIs).In a cautionary statement, Sebi said such schemes are illegal and not endorsed by the regulator, PTI reported. It urged investors to be alert when encountering messages on WhatsApp, Telegram or other apps promising access via FPIs or foreign institutional investors (FIIs).Investors were specifically warned against misleading offers such as institutional trading accounts, IPOs at discounted rates, guaranteed allotments in IPOs, and opportunities to take part in anchor book or block trades at reduced prices.Sebi reiterated that the FPI investment route is not open to resident Indians, except in certain cases allowed under the Sebi (Foreign Portfolio Investors) Regulations, 2019.The regulator also advised investors to always verify the registration status of entities on its official website and use only genuine trading apps offered by Sebi-registered intermediaries.
