SEBI bars JPMorgan unit from India's markets for alleged closing auction manipulation
- SEBI barred Copthall Mauritius Investment — a JPMorgan unit — from India's capital markets for alleged price manipulation.
- SEBI alleged Copthall placed buy orders 12 times larger than any other player in BSE's new closing auction — then cancelled a third of them.
- The cancellations allegedly moved prices in its favour, benefiting its Sensex options positions before expiry — Rs 3.2 crore impounded.
- The action is the first major enforcement under India's new auction-based closing price system launched this month for 200+ stocks.
Source: theprint.in
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