BSE Warns Investors: How 'EZInvest' Scam Targets Your Stock Portfolio

"It has been brought to the attention of the Exchange that the following entity is allegedly engaged in unauthorised activities like investment and trading recommendations without registration with SEBI or the Exchange and soliciting funds from investors for trading in various securities, including Indian Listed Equity Shares," BSE said in a circular.

The exchange said that the entity is not a registered member of BSE, and should verify the credentials of the adviser before deciding action on their inputs.

"Please note that these entities or individuals are neither registered as members nor as authorised persons of any registered member of the BSE Limited. The Exchange provides a facility to verify the registration of Exchange intermediaries at official websites," the exchange said.

The investors are cautioned and advised not to subscribe to any scheme or product offered by any person or entity offering indicative or guaranteed returns in the stock market, as the same is prohibited by law, BSE added.

Earlier, last month, BSE warned investors about miscreants using BSE's officials' photos to create fake social media IDs to spread misleading wealth advisory.

"It has come to the attention that photos of senior BSE officials are being used to create fake social media IDs. The IDs created claim to provide a wealth advisory solution to mislead gullible investors," the stock exchange said in a statement.

BSE officials are allowed to initiate or endorse any wealth management or advisory services in any capacity; however, investors should not to misguided by such fake misrepresentations.

"Investors are urged not to rely on any stock/share recommendation from any such fake social media handle and verify the source of communication before making any investment decisions," the stock exchange said.

- IANS