'Don't see other risks, Sebi is upgrading surveillance': Chairman Tuhin Kanta Pandey
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The Sebi chief also said that the Jane Street issue was more of a surveillance issue and that the regulator is in the process of upgrading now.
The chairman of of the markets regulator was speaking to the media after inaugurating a new investor empowerment facility on the apps run by the two depositories, CDSL and NSDL.
Late on Thursday Sebi through an enforcement order had temporarily banned Jane Street and three of its affiliates from the Indian market for manipulation in stocks and futures & options (F&O) markets.
The regulator had also asked the entities to together disgorge nearly Rs 4,850 crore, alleged to be Jane Street's illegal gains.
Asked if there were other similar funds that have manipulated the market, Sebi chief said he didn't think there were "very many other risks." Pandey said that what happened in the Jane Street matter was a surveillance issue, and the regulator was upgrading its surveillance systems.
A day earlier, the markets regulator had said that along with Sebi, the two leading bourses were also in the process of upgrading their surveillance systems so that cases like Jane Street did not occur.
He had also assured investors that Sebi will not tolerate any attempt at market manipulation.
The Sebi chief also said that the action it took against Jane Street was within the confines of the regulatory powers. Pandey also said that was not the regulatory powers but better surveillance and enforcement systems which would act as deterrents against market manipulators.
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