SEBI launches 'verified app label' for stock trading apps

Securities and Exchange Board of India or SEBI has launched an important investor protection measure in the form of Verified Label for stock trading apps of brokers registered with SEBI, on Google Play Store. The proliferation of fraudulent trading apps has posed a serious threat to retail investors, with scammers impersonating genuine apps that eventually deceive gullible investors in believing that their investments done through the fake apps are directed to the regulated securities market. SEBI, in collaboration with Google, has taken this initiative to implement a first-of-its-kind Verified badge on Google Play, to start with, for all stock trading apps in India that are offered by entities that are registered with SEBI. Verified stock trading apps associated with SEBI registered entities will now display a 'Verified' label in the Google Play Store. Subsequently, the 'Verified' label will also be extended to apps of other regulated intermediaries.