India's market regulator said it had barred U.S. trading company Jane Street from accessing the local securities market, after an investigation into its alleged market manipulation through positions taken in equities derivatives.

India has barred Jane Street from the country’s financial markets and said it would seize around $570 million that the U.S. securities firm made from allegedly fraudulent trades.

India’s regulator has temporarily barred Jane Street from accessing the local securities market, dealing a severe hit to the US firm that allegedly made $4.3 billion in trading gains in the South Asian nation in more than two years.