SEBI Chief's Firm Stance Against Market Manipulation

SEBI Chairman Tuhin Kanta Pandey emphasized zero tolerance for market manipulation, following an interim order against Jane Street, a New York hedge fund. He highlighted increased surveillance by the regulator and exchanges, reiterating the stance during an event by the Bombay Chartered Accountants Society.

SEBI Chairman Tuhin Kanta Pandey has made a strong declaration against market manipulation, signaling a zero-tolerance policy on the issue. The announcement comes in the wake of an interim order against New York-based hedge fund manager Jane Street, indicating heightened scrutiny in the financial markets.

During a press briefing, Pandey outlined that surveillance measures have been significantly ramped up, both by the Securities and Exchange Board of India (SEBI) and various exchange platforms. This move aims to maintain market integrity and assure investors of fair trading practices.

Asked if similar scrutiny would apply to other foreign portfolio investors, Pandey reiterated that manipulation would not be tolerated. He shared these remarks at an event hosted by the Bombay Chartered Accountants Society, reinforcing SEBI's commitment to strict regulatory oversight.

(With inputs from agencies.)