NEW DELHI: Capital market regulator -- the Securities and Exchange Board of India (Sebi) – has cautioned the public against unauthorised money mobilisation by entities claiming to provide Portfolio Management Services (PMS).
The regulator, in a statement, recently said that some entities are collecting money from the public claiming to provide PMS services. These entities have been luring the public, with a promise of high returns, through pamphlets and social media platforms.
According to the Sebi, these entities have been mobilising money in relatively smaller amounts and promising assured returns.