India regulator bars Jane Street from accessing its securities market

India's market regulator said it had barred global fund Jane Street from accessing the nation's securities market, after an investigation into alleged market manipulation.

The Securities and Exchange Board of India (SEBI) posted an order on its website dated July 3 outlining that Jane Street would no longer be able to participate in the domestic securities market.

Jane Street did not immediately respond to a request for comment from Reuters.

SEBI said it would 'impound' 48.4 billion rupees ($566.71 million) which it said was the 'unlawful gains earned' from the alleged misconduct.

"Entities are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly," the SEBI notice said, referring to Jane Street entities.

SEBI said Jane Street's activity on existing positions would be monitored until the regulator's investigation is finalised.