LONDON: India's financial watchdog has suspended Barclays from offering derivatives that allow foreign investors to trade in Indian shares.
The Securities & Exchange Board of India (Sebi) said it had barred Barclays from offering offshore derivatives because of a failure to provide a "true and accurate picture of transactions".
It also said that the bank had "violated the provisions of FII Regulations by furnishing false and incorrect information to Sebi".
The regulator acted as a result of trading through "participatory notes" in Reliance Communications, the mobile telephone operator.
Barclays has been given until December 18 to respond to the ban.
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Regulator bans Barclays
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