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JPMorgan Unit Banned from Indian Stock Market Over Alleged Manipulation

Guavy AI Editorial Team
Instruments
JPM
Share

India's securities regulator has taken action against JPMorgan Chase & Co. for allegedly manipulating its stock market system. The Securities and Exchange Board of India (SEBI) banned Copthall Mauritius Investment Ltd., a unit of JPMorgan, from the capital market.

The regulator impounded 37 million rupees ($386,000), which it described as wrongful gains made by Copthall and local firm Mansi Share and Stock Broking Ltd. The allegations are related to India's newly introduced auction-based system for share price discovery.

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