Jane Street Battles Sebi in Tribunal Over Market Manipulation Allegations
US trading firm Jane Street has appealed to the Securities Appellate Tribunal (SAT) against restrictions imposed by Sebi due to alleged market manipulations. Jane Street contends that crucial information was withheld and asserts compliance led to the lifting of restraints. The appeal hearing may occur on September 8.
- Country:
- India
In a new twist to the market manipulation allegations, US trading firm Jane Street has taken its battle to the Securities Appellate Tribunal (SAT), challenging an order by the Securities and Exchange Board of India (Sebi). The firm alleges that the watchdog denied access to crucial documents needed for its defense.
On July 3, Sebi issued an ex parte interim order, restricting four entities of Jane Street from trading and slapping a hefty penalty of Rs 4,843 crore. The trading firm claims a Sebi inspection found no manipulation, adding that they have been compliant with Sebi's directives.
Jane Street has called for the quashing of the Sebi orders and seeks interim relief to halt further actions by the regulator. While SAT's official website hasn't confirmed it, reports suggest the tribunal may hear the appeal on September 8.
(With inputs from agencies.)
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