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And indeed, volatility has been a hallmark of the market environment so far in 2022, with the S&P 500 still down more than 10% for the year-to-date after first sliding into a correction last month. The CBOE Volatility Index, or VIX, has held at a lofty level of more than 30. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. The regulator said it had received information that messages containing stock tips and other investment advice with respect to selected listed companies are being widely circulated through websites and social media platforms such as Telegram, Facebook, WhatsApp and Instagram. The Securities and Exchange Board of India (Sebi) had carried out a similar exercise in 2017 in a matter related to circulation of messages through WhatsApp. "The argument from Telegram is, 'You should trust us because we tell you that we're trustworthy,'" Maréchal said. "It's really in the eye of the beholder whether that's something you want to buy into."
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