India Bans JPMorgan Unit Over Alleged Market Manipulation
· Business · Bloomberg, Reuters, NDTV
India’s securities regulator barred a Mauritius‑based unit of JPMorgan Chase & Co. from operating in the capital market after citing alleged manipulative trading in the country’s newly introduced auction framework. The ban, announced in Mumbai, applies to the unit’s participation in all exchange‑based auctions on the National Stock Exchange. SEBI said the investigation uncovered evidence of irregular trading practices that could distort market prices. The unit was previously granted a license to trade Indian securities and will remain prohibited until the inquiry concludes. The action follows a broader regulatory push to tighten surveillance of foreign‑connected market participants.
Why it matters
The ban limits a major international bank’s access to India’s financial markets, potentially affecting liquidity and the confidence of domestic investors who rely on foreign expertise. It also signals a stronger stance by Indian regulators against market manipulation, which could influence other foreign institutions’ operations in the country.
Read the original report — Bloomberg
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.