Representatives from the Jane Street Group are set to appear before market regulator SEBI for a personal hearing in early September, Business Standard reported citing people familiar with the matter.
This will be Jane Street’s first in-person interaction with SEBI since the market regulator’s crackdown on the firm in July, the report added.
In an interim order issued on July 3, the Securities and Exchange Board of India (SEBI) had barred the US-based investment firm from buying and selling securities in the Indian market and froze Rs 4,844 crore of its funds.
The market regulator had said that it found Jane Street guilty of manipulating Indian stock market indices by taking bets in cash, and futures and options markets simultaneously to make strong gains. In its order, SEBI detailed that Jane Street could resume trading if an equivalent amount was deposited in an account that gives the regulator rights over the money until its investigation is complete.
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