WhatsApp Leak: SEBI, Bourses Checking Listed Company Trade Details
By Team Legistify / 2017-11-22

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Summary

  • SEBI and exchanges have started examining trade details of over two dozen stocks.
  • This is as part of a probe into the alleged leak of key financial details through WhatsApp.
  • SEBI is considering seeking call data records of all the persons involved in alleged circulation of key financial details.
  • The regulator has already taken action against several entities for providing investment advice without registration.
  • In August, SEBI got help from telecom regulator TRAI to curb fraudulent bulk SMSes.

SEBI and exchanges have started examining trade details of over two dozen stocks as part of a probe into alleged leak of key financial details of these companies through WhatsApp while the regulator is also considering seeking call data records of the persons involved. The companies include several listed blue chip firms, officials said on the condition of anonymity.

The exchanges are analysing the trade data of the last 12 months of such companies in order to detect any possible breach of norms, while the Securities and Exchange Board of India is taking the help of data warehouse and its intelligence systems, they added . Under SEBI rules, all the financial details of listed companies should be disseminated only through stock exchanges as they are considered price-sensitive.

Besides, SEBI is considering seeking call data records of all the persons involved in alleged circulation of key financial details and other information about listed companies on social media groups before they are made public. The market regulator has powers to seek call data records, excluding the exact content of the communication, from telecom firms.


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