Securities and Exchange Board of India (SEBI), recently imposed restrictions on Mohammad Nassiruddin, widely known as 'Baap of Charts' on social media, along with two other influencers.

They were barred from offering investment advice without the necessary registration, reigniting concerns about the risks associated with such content creators potentially misguiding investors under the guise of providing stock market education.

However, two well-known financial influencers, Super Trader Lakshya and Sivakumar, expressed their views on CNBC-TV18. They acknowledged that becoming a registered investment advisor is a challenging process and might be an unreasonable demand in the industry. Still, they emphasised the importance of influencers refraining from offering stock tips.

Sivakumar Jayachandran, a Trader and Financial Influencer, commented, "SEBI's action against the 'Baap of Charts' is justifiable. Nevertheless, SEBI's requirement of a 10-year experience rule is quite stringent."

Lakshya Singh, a trader and Finfluencer, added, "Influencers should have a clear understanding of their limitations. SEBI should also consider streamlining the process for obtaining Registered Investment Advisor licenses before passing judgment on their actions."

The financial influencers are advocating for SEBI to establish clear guidelines on the permissible activities for influencers and to explore the possibility of creating a special category that would enable them to continue their business.