Description

Appellate Authority order on RTI appeal seeking information about 'Pimco Win Win Community' WhatsApp group and SEBI's action against unregistered investment advisors operating on social media platforms.

Summary

This is an Appellate Authority order dated October 03, 2025 in Appeal No. 6547 of 2025 filed by Tarun Kumar Bera under the Right to Information Act, 2005. The appellant sought information about whether ‘Pimco Win Win Community’ WhatsApp group is registered with SEBI as a stock advisory firm, prior complaints against such groups, SEBI’s enforcement actions, and contact details for reporting such frauds. The CPIO had responded that most queries sought clarification/opinion rather than information, directed the appellant to SEBI’s website for registered entities list, and noted that complaints are examined confidentially.

Key Points

  • RTI application filed on July 05, 2025 seeking information about unregistered WhatsApp investment advisory group ‘Pimco Win Win Community’
  • CPIO responded on August 05, 2025 directing appellant to SEBI website for registered entities and noting complaints are confidential
  • Appellant filed appeal on August 29, 2025 (received September 09, 2025) expressing dissatisfaction with response
  • SEBI had issued press releases on April 11, 2025 and May 21, 2025 cautioning investors against fraudulent activities on social media platforms
  • Unregistered activities can be reported to sebi@sebi.gov.in or at SEBI registered offices
  • Appellate Authority noted that information available on public domain (SEBI website) satisfies RTI requirements as per Delhi High Court and CIC precedents

Regulatory Changes

No regulatory changes announced. This is an administrative order disposing of an RTI appeal.

Compliance Requirements

No new compliance requirements. The order reiterates existing framework:

  • Investment advisors must be registered with SEBI
  • Public can verify registration status on SEBI website
  • Suspected unregistered advisory activities should be reported to sebi@sebi.gov.in

Important Dates

  • July 05, 2025: RTI application filed
  • July 14, 2025: Application received by SEBI
  • August 05, 2025: CPIO response issued
  • August 29, 2025: Appeal filed
  • September 09, 2025: Appeal received by Appellate Authority
  • October 03, 2025: Appellate Authority order issued

Impact Assessment

Minimal market impact. This is an individual RTI appeal case regarding inquiry about a specific unregistered WhatsApp group. The order primarily addresses procedural aspects of information disclosure under RTI Act. It serves as a reminder that:

  1. Investors should verify registration of investment advisors through SEBI’s official website
  2. SEBI maintains confidentiality of complaint examination processes
  3. Public advisories about social media fraud are available on SEBI website
  4. Mechanism exists for reporting unregistered advisory activities

The case highlights ongoing concerns about unregistered investment advisory services operating through social media platforms like WhatsApp, but does not announce any specific enforcement action or regulatory change.

Impact Justification

Administrative RTI appeal order with limited market impact. Relates to individual investor complaint about unregistered advisory services on WhatsApp. No regulatory changes or enforcement actions announced.