Bloomberg | Ex-trader turned market cop halts Jane Street’s India bonanza

Ananth Narayan paced his office in Mumbai as the clock ticked toward a revelation that would shock the global financial industry. The 56-year-old former trader — now market regulator — was racing with his team to upload hundreds of pages of documents detailing an investigation into Jane Street Group LLC, one of the world’s most secretive trading firms.

On July 4, India’s financial capital woke up to the bombshell: authorities had leveled accusations of market manipulation against Jane Street, which has been wildly profitable in the country.

Jay Ritter shares his insight in this story from Bloomberg.