Sharing Financial Figues on WhatsApp comes under the purview of Unpublished Price Sensitive Information
Last updated: 13 November 2020
Court :
SEBI
Brief :
Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) observed from a newspaper article that unpublished financial results of some major companies were posted on private WhatsApp group prior to their announcement by the companies. Wipro Ltd. (hereinafter referred to as ‘Wipro’) was one of the companies about which the information was leaked on the WhatsApp group. In this respect, SEBI conducted an investigation, wherein it was observed that:
Citation :
[SETTLEMENT ORDER NO. SO/BD/AA/2020-21/6250]
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