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Indian court tells markets regulator to respond to Jane Street's appeal, effectively halting further action
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Indian court tells markets regulator to respond to Jane Street's appeal, effectively halting further action
Sep 9, 2025 12:31 AM

By Jayshree P Upadhyay

BENGALURU, Sept 9 (Reuters) - India's Securities

Appellate Tribunal on Tuesday ordered the markets regulator to

file a response within three weeks explaining why it cannot

disclose additional documents in the Jane Street case.

The tribunal also directed the Securities and Exchange Board

of India to pause any personal hearings with the trading firm

until the matter is heard again on November 18.

A pause on a personal hearing will delay a confirmatory

order from the regulator until after November 18 as the process

followed by it mandates a hearing before passing an order.

Last week, Jane Street filed an appeal against the markets

regulator, seeking to compel it to release documents the U.S.

high-frequency trading firm said were pertinent to rebut

allegations of market manipulation.

India's markets regulator on Tuesday said the investigation

and final order on Jane Street could be much wider, adding that

it will not release any documents that were not relied on for

passing the order.

SEBI said the investigation against Jane Street is at a

critical juncture and is on going.

(Reporting by Nishit Navin and Jayshree P Upadhyay; Editing by

Janane Venkatraman and Mrigank Dhaniwala

)

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