SEBI on March 23, 2023 has issued a Master Circular on Surveillance of Securities Market. SEBI Registered Market Intermediaries are directed to comply with the following as per the Master Circular on Surveillance of Securities Market:
- Proper internal code of conduct and controls should be put in place.
- Employees/temporary staff/voluntary worker s etc. employed/working in the offices of market intermediaries do not encourage or circulate rumours or unverified information obtained from client, industry, any trade or any other sources without verification.
- Access to social media platforms/ instant messaging services/ VoIP /Blogs/Chat forums/websites/e-mail or any such mediumshould either be subject to controlled supervision or access should not be allowed.
- Logs for any usage of such social media platforms/ instant messaging services/ VoIP /Blogs/Chat forums/websites/e-mail or any such medium shall be treated as records and the same should be maintained as specified by the respective regulations which govern the concerned intermediary.
- Employees should be directed that any market related news received by them either in their official mail/personal mail/blog or in any other manner, should be forwarded only after the same has been seen and approved by the Compliance Officer of the concerned Intermediaries. If an employee fails to do so, he/she shall be deemed to have violated the various provisions contained in SEBI Act and the Rules/Regulations framed thereunder,and shall be liable for action. The Compliance Officer shall also be held liable for breach of duty in this regard.