The Securities and Exchange Board of India is in the process of drafting a data privacy policy for investors, the Business Standard reports. The regulator reportedly wants to safeguard "investor data among market intermediaries and third parties". This is something that SEBI would be required to do, per the law, under the Srikrishna data protection bill, but it seems to be going through the process voluntarily. The Srikrishna committee's bill — which is currently under a public comment stage — largely leaves the specifics of how data should be safeguarded to sector regulators. The securities market deals with a high amount of personal data, especially financial personal data. Aside from eKYC through Aadhaar, intermediaries and brokers often have vast access to their clients' bank transaction logs and credit scores. The Srikrishna bill is one of the few privacy laws in the world — if it passes in its current form — to classify individuals' financial data as sensitive and personal. This classification led to dissent from within the committee by DSCI CEO Rama Vedashree, which was published as an annexure to the official report itself. SEBI and privacy This comes even as SEBI seeks to have greater access to investors' WhatsApp messages and call records in an attempt to curb insider trading. In March, the Business Standard reported that WhatsApp declined to share personal data of some users suspected in insider trading. The regulator has been investigating leaks of market-sensitive data on WhatsApp since November last year, and has reportedly been following up…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...