SEBI issues final order against Streetgains Research Services over assured returns violations

This is a final order by SEBI regarding Streetgains Research Services, a registered Research Analyst, concerning alleged violations of regulations related to providing assured returns, mis-selling, and compliance failures identified during an inspection.

Streetgains Research Services (Research Analyst, Proprietor: Kumar Venkataramegowda Santhosh)

• SEBI found that the Noticee provided assurances of returns or loss recovery to clients, misleading them into dealing in securities.
• SEBI found that the Noticee advertised past performance of research calls on social media.
• SEBI found that the Noticee maintained an incentive structure for sales executives that encouraged selling products not suited to clients' risk profiles.
• SEBI found that the Noticee failed to digitally sign research reports maintained in electronic form.
• The Designated Authority recommended a 'regulatory censure' and a prohibition from taking up new clients for one month.
• The order is issued under Section 12(3) of the SEBI Act and Regulation 27 of the SEBI (Intermediaries) Regulations, 2008.

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