The Securities and Exchange Board of India (SEBI) may soon get access to call data records (CDR) of the entities which are under its radar.
The Finance Ministry has written to the Home Ministry and the Department of Telecommunication to authorise SEBI to become a recipient of CDR information related to calls, emails and SMSs under The Indian Telegraph Act, 1885.
SEBI will not have the power to tap phones. The market regulator wants to probe charges against entities under its probe. At present only security agencies like IB have the authority to probe CDR.
This move will help to strengthen the investigation in cases of market frauds as said by the Finance Ministry.
Section 11 C of the SEBI Act has the right to call for information and record from any intermediary or any person in respect of any transaction in securities which is under investigation by the Board.