SEBI Chairman Warns Against Market Manipulation, Bars Jane Street Group

Sebi chairman Tuhin Kanta Pandey emphasized that market manipulation will not be tolerated. This statement follows an interim order issued against New York-based hedge fund manager Jane Street by the regulator.

Sebi has barred US-based Jane Street Group from the Indian securities markets and directed them to return unlawful gains of ₹4,843 crore. Jane Street is accused of manipulating stock indices through derivative positions.

In the interim order, Sebi debarred companies under the Jane Street Group, including JSI Investments, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia.

The investigation into the group's activities is ongoing, as reported by a news agency.

Chairman Tuhin Kanta Pandey, speaking at an event organized by the Bombay Chartered Accountants Society, confirmed increased surveillance to prevent future misconduct at both the regulatory and exchange levels.

Pandey stressed the importance of CAs fulfilling non-negotiable responsibilities such as transparent disclosure of related party transactions, conflict management, and timely reporting of material developments.

While being strict on manipulation, Pandey also highlighted the need to balance oversight with ease of doing business. He expressed the desire for smarter regulation that reduces compliance burden without compromising regulatory objectives.

According to the source: Mint.