Current Affairs

SEBI gets power to Probe Data Leak

Securities and Exchange Board of India (SEBI) has acquired new powers to act against information tampering, leak of data, destroying of regulatory data or unauthorised access to data
SEBI gets power to Probe Data Leak
  • As per the Finance Bill, a new section- 15HAA has been added in the SEBI Act
  • According to the bill, if a person tampers with information, destroys regulatory data, access data in an unauthorised manner then a penalty of up to Rs 10 crore or 3 times the unlawful gains, whichever is higher would be imposed on the entity
  • The step has been taken as SEBI was in the midst of probing sensitive data leak through social media platforms, Whatsapp and National Stock Exchange (NSE) case
  • It is not yet clear whether ‘regulatory data’ and ‘database’ as mentioned in the bill refers only to SEBI data or even those maintained by depositories, exchanges and clearing corporations,”

About SEBI:

  • SEBI was established in 1988 and got powers and mandate under the SEBI Act,1992
  • Its objective is to regulate the securities market and protect the securities investors
  • Ajay Tyagi is the present chairman of SEBI and took over U.K. Sinha on March 1,2017

Question: 

Q.1 Under which Act SEBI has acquired the power to invest regulatory data leaks and unauthorised access of data?
a. RBI Act, 1934
b. Income Tax Act,1961
c. SEBI Act,1992
d. Banking Regulation Act, 1949

Q.2 Who is the present chairman of the Securities and Exchange Board of India (SEBI)?
a. U.K. Sinha
b. Ajay Tyagi
c. M.D. Mallya
d. Nandan Nilekani
SEBI gets power to Probe Data Leak SEBI gets power to Probe Data Leak Reviewed by Neha on July 09, 2019 Rating: 5

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