SEBI Lifts Ban on JPMorgan Unit and Mansi Share After Market Manipulation Allegations

The Securities and Exchange Board of India (SEBI) has lifted a trading ban on JPMorgan Chase & Co's unit, Copthall Mauritius Investment Ltd, and Mansi Share and Stock Broking. The two firms were banned last month for allegedly manipulating trades in the closing auction session.

The regulator alleged that aggressive buy orders placed by Copthall and large sell orders by Mansi during the auction distorted prices of stocks in the Sensex index.

SEBI required the firms to deposit 36.8 million rupees, approximately $386,941, before lifting the ban.