By Anirudh Saligrama
Predictable regulation and due process will be key to sustaining confidence in India鈥檚 fast-growing markets, said a global association representing hedge funds and alternative asset managers following SEBI鈥檚 action against Jane Street.鈥淪EBI鈥檚 interim order reflects a transparent, data-driven approach,鈥 Kher Sheng Lee, co-head of APAC and deputy global head of government affairs at Alternative Investment Management Association, told NDTV Profit in an emailed statement. 鈥淧redictable regulation and due process will be key to sustaining confidence in India鈥檚 fast-growing markets.鈥漈he statement from AIMA 鈥 which represents hedge funds, private credit and other alternative asset managers worldwide 鈥 came after the Securities and Exchange Board of India on Friday barred Jane Street Group entities from the Indian securities market and ordered them to deposit Rs 4,843.57 crore in alleged unlawful gains. SEBI鈥檚 order said Jane Street had earned Rs 43,289.33 crore in index options profits between January 2023 and March 2025.How Jane Street Tricked Indian Markets To Make Rs 43,000 Crore In Options Profit | Explained.Jane Street Group said on Friday it disputes the findings of the Securities and Exchange Board of India鈥檚 interim order and intends to engage further with the regulator.Following Jane Street鈥檚 reaction, the market regulator said that it takes action whenever it detects violations in the market, and enforces its orders based on merit, without bias, and in proportion to the violations identified.鈥淲e enter the picture whenever we see violations taking place. We try to correct the violation. All our enforcement actions are without bias, on merit and proportionate. We make it a point that all enforcement actions fulfil this criteria,鈥 SEBI told NDTV Profit.Lee added that while protecting new retail savers is important, India must remain attractive to global investors and technology-driven strategies. 鈥淕lobal trading firms provide essential liquidity, and overly aggressive enforcement risks discouraging legitimate activity vital to market development,鈥 he said..Jane Street Banned From D-Street For Making Illegal Profits 鈥 Five Key Things To Know