News & Media 24th May 2024
Employees and third-party vendors of market intermediaries and even market infrastructure institutions (MIIs) seem to be earning well from a thriving, illegal business of selling investors’ personal and trading data. They are said to be selling it to database sellers, who then sell it to illegal investment advisories and portfolio management services (PMSes), tipsters, unregistered algo sellers, stock-market training schools and so on.
The recent article “MC Investigation: Employees, vendors of brokers, MIIs allegedly profit from sale of client data to illegal advisories, PMS firms” authored by moneycontrol.com’s Asha Menon throws light on this issue with expert comments from our Partner Manendra Singh.