Social Networking is becoming a platform for Stock Hoaxes

Under a report published in Business Line - it says that the social networking sites are becoming fertile grounds for preposterous stock market tips and advices.

In such hoaxes, anonymous users set up their accounts with names that may sound similar to prominent stock market players, issue negative commentary that creates confusion and panic amongst investors and results in massive decline of shares in the market.

One should always follow the reliable and trusted source of advice received in the matters of stock market tips. One should investigate the rumor with the stock market professionals and then react accordingly. Instead of getting bamboozled, one must always rely to the trusted source of information such as broker, research analyst or any stock market expert.

SEBI (Amendment) Bill 2013 widens the criteria of SAT Chief

Rajya Sabha Passes SEBI (Amendment) Bill 2013 that widens the criteria for selection of Securities Appellate Tribunal (SAT) chief.Finance Minister P.Chidambaram stresses a lot on the actions to be taken against the people involved in Insider Trading. It is a serious offence and SEBI should improve the surveillance.

The SEBI (Amendment) Bill 2013 proposes to appoint a Retired High Court Judge (having held the position for 7 years) to the head of SAT.

The existing provision prescribe only a serving or retired Supreme Court Judge or Chief Justice of a High Court as a head of Tribunal.