Showing posts with label ‪‪Securities and Exchange Board of India‬. Show all posts
Showing posts with label ‪‪Securities and Exchange Board of India‬. Show all posts

WhatsApp leak case: Sebi orders Axis Bank to conduct internal probe

The Securities and Exchange Board of India (Sebi) on Thursday pulled up Axis Bank for the alleged leak of its June-quarter earnings on social media platform WhatsApp. The market regulator said its preliminary examination showed “the messages circulated on WhatsApp groups almost matched with the quarter financial results of Axis Bank for June 2017, which were published subsequently”.

Sebi directed the bank to conduct an internal probe into the leak and submit its findings within three months. The inquiry should determine the people responsible for the leak, the regulator said. It also asked the private sector lender to “strengthen its processes, systems, controls” to ensure that such leaks were not repeated.