JPMorgan Unit Cleared to Trade After Market Manipulation Accusations

India's market regulator has lifted its trading ban on Copthall Mauritius Investment Ltd., a unit of JPMorgan Chase & Co.

The ban was imposed after the company and Mansi Share and Stock Broking were accused of market manipulation in an August interim order by the Securities and Exchange Board of India (SEBI).

The regulator found that Copthall and Mansi executed trades during the end-of-day auction to influence the indicative equilibrium price of the BSE Sensex Index, benefiting their options positions on the benchmark.

Copthall deposited 29.6 million rupees ($311,230) in a bank account to comply with SEBI's order, which was received last month.