India's SEBI tightens oversight after alleged manipulation by foreign firms
India's market regulator, the Securities and Exchange Board of India, or SEBI, is stepping up its watch on foreign firms after some big names, like JPMorgan's Copthall Mauritius Investment Ltd. and U.S.-based Jane Street, were accused of manipulating trades to sway stock prices.
Jane Street denies the claims, but has deposited more than $500 million in an escrow account while fighting the case.
SEBI targets suspicious trading with technology
SEBI wants to protect everyday investors and make sure everyone plays fair.
The regulator is now using technology to spot suspicious trading, hitting firms with penalties for moves that mess with closing prices.
Even major players like Bank of America, Capital Group, and local brokerage Mansi Share are under scrutiny for sharing nonpublic information or similar violations.
The message: stricter rules are here to keep India's markets transparent and trustworthy.