Jane Street Incident A Surveillance Issue, SEBI To Boost Oversight: Chairman Pandey
SEBI Chairman Tuhin Kanta Pandey confirmed that the Jane Street investigation remains under close monitoring and announced plans to upgrade surveillance mechanisms at both SEBI and the exchange level.
The Securities and Exchange Board of India will strengthen its surveillance systems following concerns related to a recent incident involving Jane Street, Chairman Tuhin Kanta Pandey said on Monday. He called it a surveillance matter and said monitoring continues at both SEBI and exchange levels.
“This is essentially a surveillance issue. Monitoring is being done at both SEBI and exchange levels. Surveillance mechanisms will be upgraded further to strengthen oversight,” Pandey said on Monday at the launch of a proxy advisory and e-voting app developed by depositories CDSL and NSDL.
Pandey said the matter remained under close observation but did not confirm whether the investigation would be formally extended. He added that the regulator was assessing investor impact from weekly expiry contracts and would base further decisions on new data.
Pandey's comments came after the market regulator, on Friday, barred Jane Street Group entities from accessing the Indian securities market and directed the impounding of Rs 4,843.57 crore in alleged unlawful gains from the group.
Separetly, commenting on F&O expiry, Pandey said that SEBI is preparing to release a white paper on market activity over the past three months, potentially as early as today. The paper is expected to compare investor losses between weekly and monthly expiry contracts and include data segmented by age group.
“This white paper will help us better understand where the vulnerabilities lie and guide our next steps,” Pandey said.
The SEBI chair also addressed the importance of shareholder voting during his address. He said investors play a role in decisions on board appointments, executive pay, mergers, and other company matters.
"Investors vote on important matters such as board appointments, executive compensation, mergers, and other strategic decisions. While retail investors often find it challenging to navigate the voting process, their collective influence can be significant when exercised in a coordinated manner," he said.
