BofA Settles India Insider Trading Case for $61,903
BofA Securities India paid 5.9 million rupees to settle SEBI allegations of insider trading. The firm was accused of rule breaches during a 2024 share sale.
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BANK OF AMERICA CORP paid 5.9 million rupees ($61,903) to settle allegations of insider trading and merchant banking rule violations in India. The Securities and Exchange Board of India (SEBI) issued the settlement order on Monday following a 2024 investigation. The settlement resolves claims that BofA Securities India failed to maintain required digital databases and breached internal information barriers.
