SEBI: Stock market regulator SEBI has also started using Artificial Intelligence (AI). SEBI member Kamlesh Chandra Varshney said on Saturday that the market regulator is using AI for investigation. He warned against using wrong practices in the capital market. At the same time, brokers have also been called upon to be cautious and help in curbing such attempts.
Manipulation of rules will not be tolerated
Securities and Exchange Board of India (SEBI) has used Artificial Intelligence in many areas besides expediting investigations. Kamlesh Chandra Varshney said that various institutions should keep an eye on the changes taking place in technology. Participating in the program of National Exchanges Members of India (ANMI), he said that it is most important for SEBI to have transparency and stop manipulation of rules. Only following the law in the stock market will prove beneficial. Violating this will lead to problems.
It will be very easy if brokers support
He said that SEBI is committed to stop those who mislead people in the stock market. Varshney, a whole-time member of SEBI, appealed to the brokers to remain alert and prevent such attempts. SEBI has continuously taken action against those making such attempts. These also include front running. We have to win the trust of investors. Without this every effort will fail. Brokers have a very important role in this. If they support us, this will be stopped very soon. Some brokers may be involved in this. We will not shy away from taking strict action against them.
SEBI is emphasizing on the use of technology
Last year SEBI had said that it will emphasize on the use of technology. Geotagging will also be started for this. Besides, emphasis is also being laid on increasing the IT capabilities of the regulator. With the help of technology, shortcomings in investigation will be removed.
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