SAT adjourns hearing in Jane Street case to April 17
The Securities Appellate Tribunal has postponed a key hearing. This case involves US trader Jane Street and market regulator Sebi. Sebi had previously imposed a hefty fine and trading ban on Jane Street. The firm has challenged Sebi's order. The t...
By ET Bureau |
ETMarkets.com
Mumbai: The Securities Appellate Tribunal (SAT) on Wednesday adjourned the hearing in the case involving US-based high-frequency trader Jane Street and market regulator Sebi to April 17.
In July last year, Sebi had passed an interim order imposing a trading ban and a fine of ₹4,844 crore on Jane Street for alleged manipulation of the local derivatives market. Following this, the firm deposited the entire fine amount in an escrow account, after which Sebi lifted the trading ban.
Subsequently, in September, the New York-based firm moved the tribunal against Sebi, stating that the proprietary trading giant had been denied access to documents that the capital market regulator had relied upon to hold the firm guilty.
In July last year, Sebi had passed an interim order imposing a trading ban and a fine of ₹4,844 crore on Jane Street for alleged manipulation of the local derivatives market. Following this, the firm deposited the entire fine amount in an escrow account, after which Sebi lifted the trading ban.
Subsequently, in September, the New York-based firm moved the tribunal against Sebi, stating that the proprietary trading giant had been denied access to documents that the capital market regulator had relied upon to hold the firm guilty.
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