SEBI may monitor calls of suspected investors

The cabinet Wednesday gave approval to issue an executive order that would allow Securities Exchange Board of India (SEBI) to monitor call data records of investors and carry out investigations on companies suspected of

wrongdoing, a cabinet minister said here.

The market regulator would also get more power to regulate chit funds, Heavy Industries and Public Enterprises Minister Praful Patel told reporters.

The SEBI has been seeking changes in regulations governing its powers and mandate for a long time as the market dynamics had changed and manipulators were using newer tools to take innocent investors for a ride.