A couple of days ago, The Economic Times reported that there was heartburn and fretting at the fact that the capital market regulator, Securities and Exchange Board of India (SEBI) has asked all the calls of fund managers at asset management companies to be recorded during the market hours.
I am surprised at the heartburn this has caused. The issue of call recording has been settled worldwide. Most jurisdictions mandate such recording. If one looks at movies or serials on Wall Street and such, the first thing any investigator does is listen to call logs. So then, why is the issue creating angst now? Something to do with the legal actions which are being initiated by regulators recently against senior people at AMCs?
