In response to Mint's query on the need to regulating stock brokers having revenue-sharing arrangements with finfluencers, Bush said: "Something is cooking." However, the Sebi chief refrained from divulging further details during an event hosted by the Association of Mutual Funds in India (AMFI).
Finfluencers typically promote affiliate links for opening trading accounts across social media platforms, such as Youtube and Instagram, as well as on their own websites. Every time a user initiates a trade via accounts opened through the links, the respective stock broker offers a percentage of the brokerage fee to the influencer who had posted the link to woo prospective clients.
This story is from the June 01, 2023 edition of Mint Mumbai.
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This story is from the June 01, 2023 edition of Mint Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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