Securities and Exchange Board of India
Press Release No. 30/2021
It has come to the notice of SEBI that some registered Investment Advisers are engaged in unregulated activity by providing platform for buying/selling/dealing in unregulated products including digital gold.
Undertaking such unregulated activity including dealing (i.e., advisory, distribution and execution/ implementation services) in digital gold by Investment Advisers is not in accordance with the provisions of Section 12(1) of the SEBI Act, 1992 read with the SEBI (Investment Advisers) Regulations, 2013 .
Investment Advisers are, hereby, advised to refrain from undertaking such unregulated activities.
Any dealing in unregulated activities by Investment Advisers may entail action as deemed appropriate under the SEBI Act, 1992 and regulations framed thereunder.
October 21, 2021