SEBI bars JPMorgan unit, 1 other over CAS manipulation in 1st such action

SEBI has issued its first interim order over alleged manipulation of trades in the newly introduced Closing Auction Session (CAS). The regulator said JPMorgan subsidiary Copthall Mauritius Investment Ltd and Mansi Share and Stock Broking placed aggressive orders in the cash market to influence the Sensex. SEBI also ordered the impounding of ₹3.68 crore in alleged wrongful gains.