New Delhi. The Reserve Bank of India on Wednesday added seven new names to its ‘warning list’ of unauthorized forex trading forums, taking the total number to 95. The central bank said the warning list includes names of entities which are not authorized to transact in foreign exchange under the Foreign Exchange Management Act, 1999 (FEMA) and which are also not authorized to operate electronic trading platforms (ETPs) for foreign exchange transactions.

The new names added to the list are: Starnet FX, Capplace, Mirrox, Fusion Markets, Trive, NXG Markets and Nord FX.

SEBI warned investors
SEBI on Wednesday urged investors to exercise caution and avoid transactions on unregistered online bond platforms. The regulator said there is a lack of regulatory oversight on these platforms and there is no system in place to protect investors.

In the statement, Sebi asked investors to check the registration status of online bond platform providers (OBPPs) before transacting and transact only with Sebi-registered entities to protect their interests. Further, all market participants have been cautioned to ensure compliance with the applicable regulatory framework before providing any services as OBPP.

The move was taken after Sebi found that certain entities, including financial technology (fintech) companies and stock brokers, were providing services as online bond platform providers without obtaining mandatory registration from the stock exchanges.