To bring to book those suspected of insider trading, the Securities and Exchange Board of India (Sebi) has sought more teeth for its investigation capabilities, similar to those in the United States.
In the background of the conviction of Indian-origin ex-Goldman Sachs director, Rajat Gupta, on charges of insider trading, Sebi has felt the need to have access to call records to nail those involved in such grave offences. When questioned on why those suspected of insider trading are not brought to book in India, unlike in the US, Chairman U K Sinha said, “US regulations allow wiretapping. The evidence in a majority of insider trading cases in US have been obtained by way of wiretapping. In India, Sebi has no such powers.”
via India: Regulator seeks more teeth to curb insider trading offences — Business Standard