Sebi penalises financial advisory co Basant Maheshwari Wealth Advisers for ad violations

According to Sebi, the firm used "exaggerated captions" on YouTube videos; marketing campaigns against regulatory body's code

by e4m Staff
Published: Mar 26, 2025 11:50 AM | 1 min read

Sebi has imposed a penalty of Rs 4 lakh on a financial advisory firm Basant Maheshwari Wealth Advisers Llp, as per media reports.

According to Sebi, the firm used "exaggerated captions" on its YouTube videos. The marketing campaigns launced by Basant Maheshwari were found to be in violation of Sebi's advertising code.

The firm has also reportedly violated Sebi's fee regulations that mandates financial advisers can charge using only one mode in a year.

Basant Maheshwari Wealth Advisers Llp has 45 days to furnish the penalty.

Meanwhile, in response to increase in fraudulent activities on social media platforms, SEBI has introduced new guidelines requiring registered intermediaries to verify their identities before advertising on platforms such as Google and Meta.

This initiative aims to enhance transparency and bolster investor protection within the securities market.

Under the new regulations, all SEBI-registered intermediaries must register on social media platforms using their email IDs and mobile numbers listed on SEBI's SI Portal. SEBI stated, "It has been decided in consultation with Social Media Platform Providers that all SEBI registered intermediaries uploading/publishing advertisements on SMPPs like Google/Meta (to start with), shall be required to register on such social media platforms using their email IDs and mobile numbers registered on SEBI SI Portal."