SEBI Partners Google for Verified Badges on Broker Apps

In Mumbai on Wednesday, India's Securities and Exchange Board (SEBI) launched a partnership with Google to introduce a verified badge on the Google Play Store for apps of SEBI-registered stock brokers and other financial intermediaries, aiming to shield retail investors from a rising tide of fraudulent trading applications.

The initiative, unveiled at an event attended by SEBI officials, exchange leaders, and Google representatives, places a prominent verification mark on app listings to signal legitimacy. Over 600 apps from registered stock brokers have already received the badge, with plans to extend it to other intermediaries, including investment advisors and online bond platforms. SEBI Chairman Tuhin Kanta Pandey described the measure as a foundational step in investor protection, stating, "This initiative is not just about a label on an app. It is about trust and safety. It is about helping investors distinguish the genuine from the fake."

The move addresses a surge in scams where fraudsters create counterfeit apps mimicking legitimate platforms, often promoted through social media and unregulated influencers. These deceptive applications lure users with promises of high...