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. Telegram was founded in 2013 by two Russian brothers, Nikolai and Pavel Durov. He floated the idea of restricting the use of Telegram in Ukraine and Russia, a suggestion that was met with fierce opposition from users. Shortly after, Durov backed off the idea. Now safely in France with his spouse and three of his children, Kliuchnikov scrolls through Telegram to learn about the devastation happening in his home country. Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market.
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