Jane Street Blindsides Regulator in Fight Over India Trades (1)

For weeks, India’s securities regulator believed Jane Street Group LLC was collaborating on its high-profile market manipulation case. The US firm had asked for more time and documents to prepare for a September hearing. Then, on Wednesday, the trading giant blindsided the authority by filing an appeal.

While that was always within Jane Street’s rights, the timing caught the Securities and Exchange Board of India off guard. Officials became aware of the firm’s move only after news reports on the appeal, according to a person familiar with the case who asked not to be named discussing a private matter.

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