SEBI Lifts Ban on JPMorgan Unit Amid Market Manipulation Probe

India's market regulator, Securities and Exchange Board of India (SEBI), has lifted its trading ban on Copthall Mauritius Investment Ltd., a unit of JPMorgan Chase & Co.

The ban was imposed after SEBI alleged that the company had executed manipulative 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 and its partner Mansi Share and Stock Broking deposited 29.6 million rupees ($311,230) in a bank account last month as ordered by SEBI, which was a condition to comply with the regulator's order.

Although the trading ban has been lifted, SEBI's investigation into the alleged market manipulation will continue, and both companies will be given an in-person hearing after studying their formal responses to the allegations.