JPMorgan Unit Still Blocked from Key Trading Window Amid Market Manipulation Allegations
JPMorgan Chase's trading ban in India has been lifted five weeks after it was imposed over allegations of market manipulation. However, the firm still faces restrictions on participating in the closing auction session (CAS) where the alleged wrongdoing occurred.
Copthall Mauritius, a JPMorgan entity, and Mansi Share and Stock Broking deposited a combined ₹3.68 crore to comply with SEBI's interim order, restoring their general ability to trade in Indian markets. This amount matches SEBI's estimate of Copthall's alleged gains, while Mansi accounted for the remaining roughly ₹72 lakh.
SEBI has proposed rewriting the rules of the CAS, which is a 20-minute window starting at 3:15 p.m. IST, to set official end-of-day prices for Sensex-linked stocks and settle futures and options contracts more transparently. The regulator aims to shorten the transition window between continuous trading and the closing auction from five minutes to as little as one minute.
The outcome of Copthall and Mansi's formal hearings will shape SEBI's confirmatory order and decide whether Copthall's CAS restriction is lifted, extended, or hardened into a formal penalty. The deadline for market feedback on SEBI's seven CAS proposals is October 3, 2026.