Our Bureau
Mumbai
This Tuesday, on July 7th, former Chairperson of Securities and Exchange Board of India (SEBI), Madhabi Puri Buch spoke about the Jane Street matter. He revealed that the capital markets regulator had seized the Jane Street matter since April 2024. Jane Street had been accused of gaining more than ₹4,800 crore through market manipulation.
Buch while talking about the whole fiasco stated that the attempts to imply the whole matter as regulatory failure were nothing more than unfortunate. The former Chairperson also highlighted the chronology in Sebi’s interim orders against Jane Street. He stated that there are attempts being made to create a false narrative citing “regulatory failure” behind the whole matter.
Buch, whose term ended back in March this year, blamed the media stating that it is very unfortunate that they are not focusing on facts. He accused the media of running false narratives around the whole scenario.
“It is extremely unfortunate that certain sections of the media are choosing to ignore facts in plain sight and seeking to create a false narrative by implying that there was regulatory failure by Sebi,” the statement by Buch said.
Buch presented the facts stating that the organisation took several steps to commence the examination of the matter till April 2024. The regulator, at whom the whole situation is being put on, took numerous steps which included identification of the index manipulation, issuance of circulars and caution letter to Jane street. The letter was to cease and desist from undertaking certain trading patterns between April 2024 and February 2025.
He also revealed that SEBI in October 2024, initiated several policy interventions and then in February 2025 the organisation instructed the National Stock Exchange (NSE) to issue a ‘cease and desist’ letter to Jane Street.
