The Securities and Exchange Board of India (SEBI) has sought extensive rights from the government from the government to remove unauthorized financial advice of internet media platforms such as WhatsApp and Telegram. At the same time, it has also demanded to increase its powers to reach their call records to investigate violations of market rules.
The regulator has intensified the investigation of market violations
This is the second time since 2022 when SEBI has demanded such powers. However, the government has not been approved yet. It is noteworthy that this request has come at a time when the regulator has intensified the investigation of market violations and has tightened the irregular financial advice on the Internet media.
SEBI has said that internet media companies have not complied with the government’s request for their call data records and access to groups and channels despite the earlier meeting with the regulator.
SEBI said this in his letter
In his letter sent to the government last week, SEBI said that companies like WhatsApp have deprived the regulator of access to their internet media group chat as the current information technology law does not recognize the capital market monitoring institution as an authorized agency.
The letter shows that the regulator has sought the power to remove any message, information, links and groups on internet media channels if the material violates securities regulations.
