Indian market regulator issues notices to global executives over Yes Bank insider trading allegations
The Securities and Exchange Board of India has accused 19 individuals of insider trading violations linked to a 2022 share offering involving global firms.
Insights:
The Securities and Exchange Board of India (SEBI) issued a show cause notice in November 2025 accusing 19 individuals of breaching insider trading regulations in India 
IN. The list of accused includes current and former executives at major global firms such as PwC and EY, as well as senior leaders at Carlyle Group Inc and Advent International. A former board member of Yes Bank Limited was also named in the regulatory action. The notice represents a rare move by the regulator against high-ranking executives at international consulting and private equity firms in relation to a capital raising transaction.
IN. The list of accused includes current and former executives at major global firms such as PwC and EY, as well as senior leaders at Carlyle Group Inc and Advent International. A former board member of Yes Bank Limited was also named in the regulatory action. The notice represents a rare move by the regulator against high-ranking executives at international consulting and private equity firms in relation to a capital raising transaction.
