India's Market Regulator Seeks Greater Authority Over Social Media

According to PANews, the Indian market regulator is seeking enhanced powers from the government to remove unauthorized financial advice from social media platforms like WhatsApp and Telegram and to access their call records for investigating market violations. This marks the second attempt by the Securities and Exchange Board of India (SEBI) since 2022 to obtain such authority, which has yet to receive government approval. The request comes as SEBI intensifies its investigations into market misconduct and cracks down on unregulated financial advice circulating on social media. Despite previous meetings with regulatory bodies, social media companies have not complied with government requests to access their call data records, groups, and channels.