TRAI’s order has come after the Securities and Exchange Board of India (SEBI) expressed concern over bulk SMSs sent by unauthorized persons to mislead the investor. Also, TRAI has made clear that only Transactional messages are to be sent from SEBI authorized entities. The matter here is about sending of bulk SMSs related to investment and Securities related matters. SEBI showed concern over unauthorized people sending investment advice related messages to the people. Such unauthorized people mislead and misguide the investors by pretending to be SEBI authorized entities. TRAI’s order here is for telecom operators to put a check on unauthorized SMS sending and control misleading messages.
TRAI’s Order
To stop the spread of bulk and misleading SMSs by unauthorized entities, TRAI has issued certain keywords to stop unauthorized subscribers from spreading securities and investments related messages. Also, the order states that SEBI authorized entities will send Transactional messages and not promotional messages. TRAI’s order says, “SMSs relating to investment advice sent by subscribers not registered with TRAI as a Telemarketer shall also be filtered and blocked using these keywords through the signature solution already implemented by service providers,” The regulator further added, “Messages from SEBI registered investment advisers shall only be sent as transactional message either directly or through a registered Telemarketer. Such messages shall not be sent or allowed to be sent as promotional messages.”
Conclusion
Misleading messages from unauthorized entities is not only limited to Investments and securities. This is a good step by TRAI to safeguard the citizens from being misled, but orders like this one need to be issued for other promotional messages as well.
