All articles tagged with #sebi
Jane Street has requested an extension to respond to India's SEBI regarding allegations of market manipulation, after being temporarily barred from trading in India and setting aside funds to comply with the investigation. The firm disputes SEBI's findings and is engaging constructively with regulators.
Indian regulators are investigating US trading firm Jane Street for alleged market manipulation and tax evasion, following a significant seizure and ban related to price rigging in the Indian stock and options markets, raising concerns over market oversight and investor protection.
India's market regulator Sebi has banned US trading firm Jane Street for allegedly manipulating India's stock market through illegal trading practices involving the Bank Nifty index, causing losses to small investors. Jane Street denies the allegations, claiming their trades are legitimate index arbitrage, but the controversy highlights concerns over market regulation and investor protection in India.
Jane Street Group deposited $564 million in an escrow account to comply with India's SEBI amid ongoing investigations into alleged market manipulation related to its options trading, with the firm denying the allegations and considering legal options while its return to the Indian market remains uncertain.
Jane Street, a U.S. high-frequency trading firm accused of market manipulation in India, has deposited $567 million in escrow to lift trading restrictions imposed by SEBI, which is investigating allegations of artificial support of the Bank Nifty index and other indexes. The firm plans to contest the allegations and has not specified when it will resume trading in India.
Jane Street defends itself against India's SEBI accusations of index manipulation, asserting that SEBI's claims are erroneous and that the firm has been unfairly characterized, while preparing a formal response and assessing legal options.
Jane Street's secretive trading strategy in the Indian options market, which generated billions in profits, led to an investigation by India's SEBI, resulting in a temporary market ban and seizure of assets. The case highlights complex trading practices like arbitrage versus manipulation, especially in India's unusually large and retail-driven options market, raising questions about market efficiency and regulatory oversight.
Jane Street is accused by SEBI of manipulating the Indian derivatives market to make $4.3 billion, leading to a temporary ban from India, while Goldman Sachs has reduced its perceived risk of losses, allowing for increased dividends and potentially higher bonuses. The article also covers broader financial industry updates, including restructuring efforts and market performance of hedge funds.
India's SEBI has temporarily banned US-based firm Jane Street from accessing its securities market and seized 48.4 billion rupees ($570 million) due to alleged index manipulation and unfair trading practices, marking a rare regulatory action against a foreign entity in India's growing derivatives market.
SEBI has temporarily barred U.S. firm Jane Street from Indian markets and frozen $566 million over allegations of manipulating the Nifty 50 index through aggressive trading strategies, citing a lack of economic rationale and ongoing manipulative practices despite advisories. The move aims to protect market integrity and retail investors amid concerns over algorithmic trading and foreign firms exploiting India's derivatives markets.
The Supreme Court of India has ruled that the Adani Group, led by billionaire Gautam Adani, will not be subjected to additional investigations beyond the ongoing probe by the Securities and Exchange Board of India (SEBI), which must be completed within three months. This decision comes after allegations of wrongdoing by U.S. short-seller Hindenburg Research, which led to a significant drop in Adani's stock value. The court's ruling has resulted in a rally of Adani Group's shares, although the company still faces other challenges, including political scrutiny and separate federal investigations.
The Supreme Court of India has directed the Securities and Exchange Board of India (SEBI) to conclude its investigation into the Adani Group within three months, stating that the investigation cannot remain open-ended. This follows allegations by Hindenburg Research of stock manipulation and accounting fraud against the conglomerate. Gautam Adani, the head of the Adani Group, expressed relief at the court's decision, stating "truth has prevailed." Shares of Adani Group companies rose following the ruling, despite the group having previously lost significant market value after the Hindenburg report. Adani, once the second-richest person globally, now ranks 15th on the Bloomberg Billionaires Index.
India's Supreme Court has declined to establish a new panel to investigate Hindenburg Research's allegations of fraud against Gautam Adani's companies, instead directing the Securities and Exchange Board of India (SEBI) to complete its ongoing investigation within three months. The court dismissed claims of a conflict of interest within the court-appointed panel and emphasized that investigations by third-party organizations like Hindenburg, which accused Adani of "the largest con in corporate history," cannot be considered conclusive evidence against SEBI's findings. Adani's firms experienced a significant market value loss following the allegations but have since seen a recovery in stock prices.
The Adani Group, controlled by billionaire Gautam Adani, has been accused by the Organised Crime and Corruption Reporting Project (OCCRP) of using "opaque" Mauritius funds to obscure involvement of alleged business partners in their publicly traded stocks. The OCCRP report revealed that two individual investors with "longtime business ties" to the Adani family used offshore structures to buy and sell Adani shares. While there is no evidence that their money came directly from the Adani family, there is evidence that their trading was coordinated with the family. The Adani Group has rejected the allegations, stating that they are baseless and unsubstantiated. The report has caused a decline in Adani Group shares and raised concerns about corporate governance. The Securities and Exchange Board of India (SEBI) is conducting an ongoing investigation into the group.
India's market regulator, SEBI, has proposed measures to contain extreme price movements in shares on which futures and options trade, including longer trading suspensions and restricting price movements. The proposed restrictions follow a free fall this year in shares of billionaire Gautam Adani's group companies after U.S.-based short seller Hindenburg Research raised governance concerns in January. SEBI said it is desirable to have safeguards against such extreme price movements from the perspective of market stability, risk management, and protecting the interest of investors.