New Delhi, Nov. 13 -- A recent study by the Association of Registered Investment Advisors (Aria) found the growing extent of violations among trading call providers (TCP), entities who promise stock tips, intraday trades and guaranteed returns. The Securities and Exchange Board of India (Sebi) has intensified action against these entities to differentiate between genuine financial advisors and speculative call providers.

Aria is an association of registered investment advisors that was founded after the introduction of the Sebi (Investment Advisers) Regulations by the regulator in 2013.

Mint explains what trading call providers do and why investors may need to look closer when seeking financial advice.

Trading call providers are entiti...