The Union Cabinet has approved the SEBI Act amendment bill to give more powers to the market regulator. The bill will replace SEBI ordinance which was re-promulgated in March this year.The bill has provisions to empower the SEBI chairman to order searches and seziures and crack down on ponzi schemes.It also seeks to empower SEBI to regulate all money pooling scheme worth over hundred crore rupees. It will also authorise SEBI to call for information like phone call records for adding its security transactions investigations.