SAT to Rule on Jane Street's SEBI Appeal on 21 October
· Business · LiveMint, Economic Times
The Securities Appellate Tribunal (SAT) has reserved its verdict until 21 October on Jane Street's appeal against SEBI's ex-parte interim order. The US-based market maker is seeking access to withheld trade logs and correspondence to defend against market manipulation charges. SEBI had barred Jane Street from the Indian securities market and directed it to disgorge ₹4,843 crore in alleged unlawful gains from Bank Nifty index manipulation. Jane Street argues that previous reviews by NSE and SEBI’s ISD found no proof of wrongdoing, while SEBI maintains that counterparty data is irrelevant to the allegations. The appeal highlights tensions over transparency and evidence disclosure in regulatory proceedings.
Why it matters
The outcome will determine whether Jane Street can resume trading in India and avoid a significant financial penalty. It also raises broader questions about data access and fairness in SEBI’s investigations of foreign financial firms.
Read the original report — LiveMint
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