SEBI conducts searches in WhatsApp leak case

Mumbai Dec 22: In a major development in the leakage of company results before they were released the Market regulator SEBI on Friday had conducted searches at premises of more than 30 market analysts and dealers and seized documents, computers, mobiles and laptops.

Sources said that "the searches were conducted by Sebi after it launched a probe into the circulation of unpublished price sensitive information about various listed companies, including some blue chips, through WhatsApp messages and social media chatrooms."

The operations involved more than 70 Sebi officials.Sources added that currently, Sebi has the power to conduct searches and seizure.

Earlier there were reports that the quarterly results of some listed companies were circulated in social media before even they were released to the market regulator.