Sending out a stern warning to firms leaking key financial info ahead of public announcements on social media platforms, market regulator Sebi on Thursday said all those responsible, including auditors, will face the music and insider trading rules will be strengthened if required. Addressing a press conference after a board meeting, Sebi Chairman Ajay Tyagi said it's clear from the instances involving recent information leaks on WhatsApp that the details were leaked by companies themselves. He also said Sebi has set up a committee to discuss various issues of insider-trading and to figure out how much more regulatory strengthening is required. “We will bring out amendments to insider trading regulations soon.”
Blaming companies themselves for the problem, he said, “We cannot hide behind technology and say this is encrypted. It's our role to see that price-sensitive information should not be out before it is in the public domain.”