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SEBI Accuses Bank of America of Insider Trading Leak

1/8/2026

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Summary

Story summary

India's Securities and Exchange Board (SEBI) has accused Bank of America (BofA) of improperly sharing non-public information about a $180 million block trade involving Aditya Birla Sun Life AMC shares.
SEBI's November notice states that BofA's deal team disclosed sensitive details to uninvolved employees and misled investigators.
The regulator criticized BofA for lacking adequate safeguards against information leaks.
BofA is preparing a response and may pursue a multi-million-dollar settlement without admitting wrongdoing.
These allegations follow a whistleblower complaint in 2024, prompting an internal probe and the exit of three investment bankers from BofA.

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Story summary

India's Securities and Exchange Board (SEBI) has accused Bank of America (BofA) of improperly sharing non-public information about a $180 million block trade involving Aditya Birla Sun Life AMC shares.
SEBI's November notice states that BofA's deal team disclosed sensitive details to uninvolved employees and misled investigators.
The regulator criticized BofA for lacking adequate safeguards against information leaks.
BofA is preparing a response and may pursue a multi-million-dollar settlement without admitting wrongdoing.
These allegations follow a whistleblower complaint in 2024, prompting an internal probe and the exit of three investment bankers from BofA.