Businesses that can't be audited won't be permitted: SEBI Chief

SEBI Chairperson Madhabi Puri Buch said that any business that operates on the 'black box' model that cannot be audited or validated will not be permitted. Amid reports that the market regulator might clamp down on algo trading, Buch said, "We are not for or against algo trading as long as there is sufficient transparency and disclosures".