India’s market regulator, SEBI, has barred US-based Jane Street Group from trading in Indian securities and seized $570 million in alleged unlawful gains. The move signals increased scrutiny of high-frequency foreign traders in the booming Indian derivatives market.

To uphold market integrity and protect investor interests, the Securities and Exchange Board of India (SEBI) has barred prominent market commentator Sanjiv Bhasin, a former director at IIFL Securities, and 11 other individuals and entities from the securities market for alleged fraudulent trading practices.