SEBI Conducts ‘Search And Seizure’ In WhatsApp Leak Case
SEBI conducted searches at offices of nearly 30 analysts and seized documents to laptops, according to PTI.
In a major crackdown against leak of price sensitive information about listed firms, market regulator Securities and Exchange Board of India today conducted searches at premises of more than 30 market analysts and dealers, seizing documents, computers, mobiles and laptops.
The searches follow a probe into circulation of unpublished price sensitive information about various listed companies, including some blue chips, through WhatsApp messages and social media chat rooms. A source familiar with the development confirmed about the search operations in major cities today to PTI.
Registers, documents, computers, mobile phones and laptops, among other things, were seized, the source added.
The operations involved more than 70 SEBI officials, assisted by the state police departments. This is one of the biggest operations since SEBI got the search and seizure powers.
SEBI launched a probe after reports recently indicated that price sensitive information relating to major companies listed in Indian stock exchanges, were being circulated in WhatsApp groups, prior to the public announcement of quarterly results.
SEBI Chairman Ajay Tyagi recently said that the regulator was investigating the matter. Circulation of unpublished price sensitive information and trading based on such information in the securities market is prohibited under SEBI’s insider trading regulations.