SEBI to Take Action Against Whatsapp Leaks
It is reported that the Securities and Exchange Board of India (“SEBI”) will soon take action against some market operators and senior staff members of about a dozen listed blue-chip firms for their alleged involvement in the recurrent leak of price-sensitive information shared through WhatsApp. SEBI may also penalize companies for alleged lapses in security measures to control and prevent the leak of unpublished price sensitive information, including financial results before they are release publicly.
Amendment to Prevention of Money-laundering (Maintenance of Records) Rules, 2005 (“PMLA”) Notified by GoI
SEBI via a circular dated June 06, 2018 has notified amendments to the PMLA. Specifically, the amendments deal with the explanation of the term “certified copy” and a list of deemed officially valid documents (“OVDs”) for limited purpose of proof of address (in case OVD submitted by an Indian citizen or foreign national does not contain updated address).