To curb the activities of finfluencers providing stock tips on social media under the guise of “for educational purposes only,” markets regulator Sebi has issued a draft circular restricting the use of up-to-date share price data.

According to the circular, individuals solely engaged in education should not use market price data from the past three months to discuss, display, or mention any security. This includes using any code name of a security in their speeches, videos, tickers, or screen shares, particularly when indicating future price movements or offering advice or recommendations related to the security.