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regular-article-logo Wednesday, 17 April 2024

SEBI using AI for probes, firms urged to keep track of technological developments

Against the backdrop of instances of manipulations in the stock market, whole time member Kamlesh Chandra Varshney said the message is that abiding with the law will be more beneficial and violations will cause problems

Our Bureau And Agencies New Delhi Published 25.02.24, 11:01 AM
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Sebi is using Artificial Intelligence (AI) for investigations, its whole time member Kamlesh Chandra Varshney said on Saturday and emphasised that entities should keep track of technological developments.

Against the backdrop of instances of manipulations in the stock market, he said the message is that abiding with the law will be more beneficial and violations will cause problems.

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In response to a question on whether Sebi is using AI, Varshney said, “We are using Al for investigations... and also using it for a lot of things.”

He was speaking on the sidelines of the 13th international convention of the Association of National Exchanges Members of India (ANMI) in the national capital.

As long as the market is transparent and no manipulation is happening, that is fine with the regulator, he noted.

The Securities and Exchange Board of India (Sebi) has been taking action against violators as well as measures to enhance transparency and curb misdoings.

Varshney cautioned against manipulations in the capital market and urged brokers to keep an eye on them and prevent such instances.

Emphasising the importance of investor trust, Varshney said that if there is no trust of investors, “everything will fail”.

Manipulations are going on and Sebi cannot intervene in all of them. Some brokers are involved and the broker community should keep an eye as “bad elements can come in the system”, he said.

PTI

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