Wants to use call records in insider trading

Wants to use call records in insider trading

Wants to use call records in insider trading

Sebi has sought an approval from the government to use telephone call records as evidence in insider trading cases, said Securities and Exchange Board of India (Sebi) Chairman U K Sinha.

Sinha said personally he is not comfortable with the idea of wire-tapping, but Sebi has sought nod for accessing phone data records which can help in establishing relationships among various parties involved in insider trading.

While wire-tapping enables monitoring of telephone or Internet conversation, call data records only show the calls made by the alleged party. The market regulator is asking for this approval for quite some time.

Earlier in the day, Sebi said it will not settle serious offenses including insider trading by consent process. Consent process is a settlement of proceedings between Sebi and alleged violator without admission or denial of the guilt, subject to a fine and also a voluntary ban in some cases.

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