Question:
Is there any requirement of taking permission or License from SEBI or any other Regulatory body? Any specific guidelines to be followed so that financial regulations are not violated.Is it possible ;launch a interactive website , charge nominal (or fixed)amount from the clients for the services you shall be providing and start advising your clients what stocks to buy,when to buy and when to exit?Investment will be done by the clients through their demat account for which they shall be themselves responsible.Please inform if some one has a knowledge base or him/herself has done such thing.
Answer:
Its very risk to start this kind of work as SEBI has strict rules against these kind of consultancy work. Last month one such consultancy was sealed and the owner of website was imprisoned in Jail and has to pain heavy fine. Better to work as sub-broker than doing this kind of risky work. Companies which have registered with SEBI as broker can do this type of service as part of their service.
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