India lifts a trading ban on a JPMorgan Chase & Co. unit tied to an index-manipulation allegation. NDTV and Bloomberg both report that the securities market regulator allows the entities involved to continue trading in India’s capital markets while the underlying case remains under review.
Bloomberg reports additional detail on how the ban is lifted: the JPMorgan unit deposits 29.6 million rupees (about $311,230) into a bank account to comply with an order from India’s market regulator. NDTV likewise states that the regulator lifts the prohibition to permit trading, but the investigation into the alleged market manipulation continues.
Across the reports, the differing emphasis is mainly on process and timing. Bloomberg focuses on the compliance deposit and the mechanism used to satisfy the regulator’s order, while NDTV concentrates on the outcome for market access and the continuation of the investigation. Both accounts agree that the regulatory probe is ongoing despite the temporary change in trading status.
