Sebi rejects finfluencer Avadhut Sathe’s claims of regulatory vacuum, says rules on stock tips clear

Key Highlights

• The interim ex-parte order targeted one of India’s most visible stock market training ecosystems, which Sebi said had blurred the line between education and actionable investment advice.
• ASTA, in a statement after the order, said it was “a victim of regulatory vacuum”, insisting that it does not issue stock tips, recommendations or research, and that all market illustrations used in its sessions were for “conceptual clarity.” It said it would challenge the order and had full faith in the judicial process.
• “We are a victim of a regulatory vacuum and do not fall under the category of research analyst or investment adviser," said an ASTA spokesperson on Friday.
• Sebi, however, found that the academy operated less like a training institute and more like an advisory entity.
• A search operation at ASTA’s premises and at the homes of Sathe and his wife in August led to the discovery of live trading rooms where participants received precise intraday cues, buy and sell levels, stop losses, resistance points and strategy guidance.