A study by the Securities and Exchange Board of India found that retail investors lost more than $20 billion on option trades over three years. On July 4, SEBI announced it would seize 48.4 billion rupees ($570 million) from trading giant Jane Street Group,

(Reuters) -Jane Street plans to contest a finding by India's financial regulator that the U.S. trading firm engaged to manipulate the country's markets, the Financial Times reported on Monday. Jane Street's senior management said it was "beyond disappointed" by the regulator's "extremely inflammatory" accusations and were "working on a formal response" to rebut them,