SEBI is utilizing artificial intelligence (AI) for investigations, according to a senior official of the market regulator.
Kamlesh Chandra Varshney, a member of SEBI, emphasized the importance of staying updated on technological advancements.
He also warned that adhering to regulations will be beneficial, while violations will result in consequences. Varshney spoke at the 13th international convention of the Association of National Exchanges Members of India, stating that AI is being used for investigations and other purposes.
He advised brokers to be vigilant against stock market manipulations to maintain investor trust. SEBI has been cracking down on entities involved in manipulative practices, including front-running activities.
In an effort to streamline compliance reporting, SEBI directed intermediaries reporting to financial institutions to upload client certifications under FATCA and CRS systems by a certain deadline.
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