New Delhi, Aug. 21 -- India's market regulator has acted within days against a JPMorgan Chase-linked investment entity and a domestic brokerage over alleged manipulation of trades during the stock market's closing auction, signalling a tougher approach as the new system comes under scrutiny.
The Securities and Exchange Board of India (SEBI) has barred Copthall Mauritius Investment Ltd., a JPMorgan unit, and Mansi Share and Stock Broking Ltd. from participating in the securities market following alleged manipulative trading on August 13.
The interim order was issued within six days of the transactions, marking a notably faster response compared with several previous market-manipulation investigations.
The action comes shortly after SEBI i...