SEBI Strengthens Market Oversight to Prevent Manipulation
SEBI Chairman’s Stern Warning on Market Manipulation
SEBI Chairman Tuhin Kanta Pandey
SEBI, India’s market watchdog, is now keeping a closer eye on the stock market. Chairman Tuhin Kanta Pandey has sent a clear message: market manipulation will not be allowed. This comes after SEBI took action against Jane Street Group, a hedge fund based in the US.
Enhanced Monitoring and Recent Steps
Pandey shared that SEBI and stock exchanges are now watching the market more closely. When asked about other foreign investors, he stated firmly, “Market manipulation will not be tolerated.”
SEBI recently stopped Jane Street Group from operating in the Indian market. The group was told to return illegal profits totaling Rs 4,843 crore. This is one of SEBI’s largest recovery orders to date.
Entities Affected
In its recent order, SEBI has temporarily banned four entities from trading:
- JSI Investments
- JSI2 Investments Pvt Ltd
- Jane Street Singapore Pte Ltd
- Jane Street Asia Trading
These entities cannot trade until SEBI completes its investigation.
The Need for Transparency and Ethics
At a Bombay Chartered Accountants Society event, Pandey highlighted the need for transparency and ethics in business. He reminded accountants that sharing related party transactions, handling conflicts of interest, and reporting important updates on time are “must-do tasks.”
Pandey also talked about the problem of too many rules. He said, “We know that too much information and too many rules can be overwhelming. Sometimes, they don’t help as much as they should.”
Looking for Better Ways
He added, “We want to see better results with fewer rules, less information, and less micromanagement from us.” Pandey asked for ideas on how to make things better.
