Investor Alert: BSE Warns Against Illegal Investment Services by Unregistered Individual

India’s premier stock exchange, BSE Limited, has issued a warning to investors regarding an individual named Aditya Rishab Mishra, who is allegedly offering unauthorized investment and trading services.

According to BSE’s official release, Mishra has been promoting investment tips, trading recommendations, and account‑handling services without the necessary registration from the Securities and Exchange Board of India (SEBI).

BSE clarified that Mishra is neither a registered member of the exchange nor an Authorized Person of any registered member. Investors are strongly advised never to share sensitive trading credentials such as user IDs or passwords with unverified individuals.

The exchange emphasized that such schemes carry serious risks: They are not approved or endorsed by BSE. Investors participating in them will not be covered by investor protection mechanisms or dispute resolution mechanisms. Any losses incurred will be entirely at the investor’s own risk and cost.

BSE urged investors to verify registrations of intermediaries directly on its website and ensure that Investment Advisors (IA) and Research Analysts (RA) are properly enlisted before engaging their services.

SEBI has also cautioned against unregistered investment advisory services that mislead investors by falsely claiming SEBI registration or displaying fake certificates. The regulator has explicitly banned its registered intermediaries and their agents from any association, financial or promotional, with unregistered entities.

Recently, Delhi Police arrested three men running a ₹5 million fraud by impersonating representatives of SEBI‑registered stockbrokers. A 28-year-old Indian IT professional was defrauded of 1.375 million rupees by individuals posing as stock investment advisors authorized by SEBI.

Investors should treat any approach from Aditya Rishab Mishra or similar unregistered individuals as a red flag. Engaging with them exposes investors to fraud, financial loss, and zero regulatory protection.