They keep our data secure !

WhatsApp messenger - a messaging app which is owned by Facebook has reportedly refused to share user data with Securities and Exchange Board of India (SEBI) for privacy reasons.
According to current regulations, WhatsApp is not obliged to share user-specific information with SEBI. However, if the company decides not to cooperate, the market regulator could take the matter to court against WhatsApp.
Doing so, however, risks voilation of personal privacy, sources close to the development have said. They further said that, The root source of information can be very effective in reducing down on the culprits. However, based on the response received from WhatsApp, it is clear that the social media firm is not keen to oblige.
Globally, there have been several cases where social media platforms have declined to share user-specific information with government agencies. These have often resulted in bitter legal battles, people in the know further stated.
According to SEBI’s Listing Obligation and Disclosure Requirement (LODR) and Prevention of Insider Trading (PIT)regulations, price-sensitive information needs to be uniformly disclosed through stock exchange platforms. Possession and circulation of unpublished price-sensitive information constitutes a violation of PIT regulations.
However, SEBI’s insider trading rules state that mere possession of unpublished financial information cannot be considered as wrongdoing. The violation is when actual trading happens on the basis of the leaked data.
Some experts fear that if SEBI manages to get hold of the specific user data on WhatsApp, it could set a precedent, prompting other government agencies to take legal help for similar cases.

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