Securities and Exchange Board of India (SEBI) Chairperson Tuhin Kanta Pandey on 12 December told Mint that the market regulator’s rules on finfluencers are “very clear”, adding that it has to tread the line between fundamental freedoms and misinformation via social media.
Pandey was speaking at the 18th annual Mint BFSI Summit 2025, where he delivered the keynote address and had a fireside chat on ‘Steering India Inc. through a regulatory lens’.
Tuhin Kanta Pandey on specific regulations for finfluencers
When asked if SEBI is working on specific regulations to address misinformation and fraud problems caused by finfluencers, Pandey said that the SEBI’s existing regulation “is very clear” on the matter.
“I don’t think there is ambiguity — what constitutes investment advice is clear. In several pump-and-dump cases we found finfluencers were involved. So, one part is surveillance on stocks and on social media to see what’s going on… In disclosures, we brought in verification and instructions that flagged claims are verified by the exchanges,” he added.
Challenges posed by social media, right to education
Pandey however noted that when it comes to social media, just having rules is not enough, the follow-through is constant. “(It) has to be constant measures. Social media is such an area that (there is need for) continuous surveillance and removal,” he added.
He also acknowledged that people have the right to access information online. “There is a line between education — freedom of expression and people’s fundamental rights have to be respected. Increasingly we have tools to distinguish where the lines are being crossed,” he said.
Tuhin Kanta Pandey on ‘optimum’ regulations
Speaking at the 18th Mint BFSI Summit in Mumbai today, on 12 December 2025, Pandey also discussed SEBI’s view on regulations and what he calls “optimum regulations”.
Explaining the term, he said, “Regulation is for a purpose, it’s not the end itself. There must be review, sunset clauses (should exist) for contextual rules and reactions. (So that it does not) burden the entire ecosystem, while it was meant for certain bad actors. This is endemic in India and several jurisdictions.”
He added that too much deregulation is also a problem. “We have to put our heads together, with industry, stakeholders, media, to work on this. Looking at market more systemically, improved surveillance is one set to measures to address issues. Further, we will require data analysis and effectiveness of regulations to achieve intended purpose. No need to rush for regulations, they have to be thought out. Reacting on every week and 10 days basis is not practical,” he added.
About 18th Mint BFSI Summit
At a time when India’s financial landscape is being reshaped by rapid advances in technology, new or updated regulations, and growing customer expectations, this year’s theme is ‘Finance’s Next Frontier’ seeking to bring together influential voices to discuss how the banking, fintech, insurance and markets, can prepare for a new era of challenges and collaboration.
