The Securities and Exchange Board of India (Sebi) has observed indications of manipulation in the SME segment, particularly in IPOs and trading. Sebi Chairperson Madhabi Puri Buch stated that patterns suggestive of manipulation have been identified and further investigation is ongoing. Concerns arise from entities exploiting SME listing platforms due to their vulnerability to manipulation. Sebi aims to establish a balanced regulatory environment for SMEs, acknowledging their distinctiveness from the main board. Recent scrutiny has intensified, with Sebi taking interim measures against irregularities in JM Financial’s operations. Additionally, Sebi is considering implementing a T+0 trade settlement cycle by March 28 to enhance market integrity.