India has barred one of the world's largest quant trading firms, Jane Street, from accessing its securities market after an investigation found it made "unlawful gains", taking the most stringent action ever against a foreign trading firm.

India’s market watchdog SEBI has temporarily barred US trading firm Jane Street from accessing the local securities market over allegations of manipulative trades. Bloomberg's Abhishek Vishnoi breaks down what this means for India’s markets and exchanges.

India’s stock market regulator has banned Jane Street from dealing securities in the country, accusing the New York-based trading firm of a “sinister scheme” to manipulate derivatives markets. The Securities and Exchange Board of India said its decision to limit Jane Street’s access to India’s securities markets stemmed from a months-long investigation.

Dr. Phil McGraw’s Merit Street Media is filing for bankruptcy, and is also suing its distribution partner, Trinity Broadcasting, for breach of contract.

Former daytime television talk show host Phil McGraw's JV Merit Street Media has filed for bankruptcy protection and sued its business parther, Trinity Broadcasting, for breach of contract.