U.S. proprietary trading outfit Jane Street has been accused by the Indian Securities and Exchange Board of index manipulation on its exchanges and walloped with a financial penalty of around $570 million,

The U.S. trading firm’s entities are “further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly.”

India’s stock market regulator has temporarily banned Jane Street from dealing securities in the country, accusing the New York-based trading firm of a “sinister scheme” to manipulate derivatives markets.