In a significant development, the Securities and Exchange Board of India (SEBI) has initiated an investigation into the popular YouTube channel ‘Baap of Chart,’ managed by Nasiruddin Ansari. This move comes in the wake of a series of content controversies and concerns surrounding the channel. Here are the key details regarding SEBI’s probe:
Market Manipulation Allegations: SEBI’s investigation into ‘Baap of Chart’ centers around allegations of market manipulation. The channel often provided financial advice and made predictions related to stock markets, cryptocurrencies, and investments, which had garnered a substantial following. However, questions arose about the legitimacy and accuracy of this advice.
Influence on Stock and Cryptocurrency Prices: It has been alleged that the channel’s content, which was watched by a large number of viewers, may have influenced stock and cryptocurrency prices. Some of the stocks and cryptocurrencies discussed in ‘Baap of Chart’ videos experienced significant fluctuations, prompting concerns about market stability.
Potential Regulatory Violations: SEBI is examining whether ‘Baap of Chart’ and Nasiruddin Ansari violated any regulatory norms related to the dissemination of financial advice, market predictions, and investment recommendations. Compliance with SEBI’s regulations and guidelines is essential in the financial and investment advisory sector.
Public Impact: The content on ‘Baap of Chart’ was widely followed by retail investors and traders, and the investigation aims to assess whether the channel’s advice had a significant impact on public financial decisions.
Nasiruddin Ansari’s Response: In response to the investigation, Nasiruddin Ansari has stated that he provided financial insights for educational and entertainment purposes only. He maintains that his content was not meant to manipulate markets or provide financial advice.
SEBI’s investigation into ‘Baap of Chart’ underscores the growing scrutiny of financial content on digital platforms and the need for content creators to act responsibly when discussing financial matters. The outcome of this investigation will have implications not only for Nasiruddin Ansari but also for the broader landscape of online financial advice and market predictions in India.