The business television channel CNBC-TV18 has a line-up of technical analysts who look at the charts and offer "advice" to viewers, investors, traders on whether to buy, sell or hold.
A guy called Mathew Easow from Calcutta is one of the sages. And guess what? Mr Easow, is one of those who has been directed by SEBI to "cease and desist" from recommending any investment in the public media which amounts to violation of a key regulation embodied in SEBI (prohibition of fraudulent and unfair trade practices relations to securities market) Regulations, 2003.
Reason? According to the May 22 issue of Sucheta Dalal's new personal finance magazine Money Life, Easow, chairman of Mathew Easow Research Securities Ltd., was guilty of advising investors to buy stocks which his associate companies were selling on the side!
"This indicates an obvious attempt to mislead the investors through investment recommendations, in a striking posture of ambivalence coupled with interest," the SEBI order said.
But clearly, Raghav Behl's CNBC-TV18 has not heard of the SEBI order or has no intention of complying with it. Easow was one of the Three Wise Men who was analysing the markets before they opened this morning. And Easow was one of the experts who were holding forth on Friday evening on 'Your Stocks with Udayan Mukherjee'.
Ethics, schethics anybody?