The BSE Limited has issued a cautionary notice advising investors against dealing with an entity identified as "Trade with Shahbaz/Shahbaz Verma", alleging involvement in unauthorized activities, including account handling and solicitation of funds from investors.
According to the exchange, the entity is allegedly offering services related to trading and investment activities without the necessary registration or authorization from recognized market intermediaries.
Key Takeaways
- BSE has issued an investor caution notice against "Trade with Shahbaz/Shahbaz Verma."
- The entity is allegedly involved in unauthorized account handling and fund solicitation.
- BSE stated the entity is not registered as a member or authorized person of any registered BSE member.
- Investors have been advised not to share trading credentials with third parties.
- The exchange warned against schemes promising assured or guaranteed returns.
BSE Flags Alleged Unauthorized Activities
In its advisory, BSE stated that it had received information indicating that the entity was allegedly engaging in unauthorized activities while soliciting funds from investors.
The exchange identified an online presence associated with the name "Trade with Shahbaz" and noted that investors should exercise caution before engaging with any person or organization offering trading-related services without regulatory authorization.
Entity Not Registered With BSE
BSE clarified that the named individual or entity is neither registered as a stockbroker member nor recognized as an authorized person of any registered member of the exchange.
The exchange also reminded investors that verification facilities are available through official directories for stockbrokers, authorized persons, investment advisers, and research analysts.
Investors Advised Against Sharing Trading Credentials
The exchange cautioned investors against sharing sensitive trading information, including:
- Trading account usernames
- Passwords
- Portfolio access credentials
BSE noted that allowing third parties to operate trading accounts could expose investors to significant financial and regulatory risks.
Warning Against Guaranteed Return Schemes
The exchange further advised investors to avoid subscribing to products or schemes that promise assured, indicative, or guaranteed returns from stock market investments.
According to the advisory, such claims may violate regulatory norms and should be treated with caution.
