Jane Street officials to appear before Sebi next month

Jane Street Group representatives are scheduled to appear before the Securities and Exchange Board of India (Sebi) for a personal hearing in early September, according to people familiar with the matter.

- SAMIE MODAK & KHUSHBOO TIWARI

This will be the high-frequency trading (HFT) firm's first in-person interaction with the regulator since Sebi, in an interim order on July 3, barred it from trading for alleged market manipulation. The ban was later lifted after Jane Street deposited ₹4,840 crore, which the regulator had identified as gains from disputed trades involving the Nifty Bank index.

Sebi had initially given the trading firm 21 days to respond to the charges outlined in the ex-parte interim order, a deadline that expired on July 26. On July 28, Jane Street sought an additional six weeks to submit its reply and prepare its defence. Legal experts said entities facing regulatory action can request personal hearings to supplement their written submissions.