India’s market regulator is alleging that Bank of America Corp. employees shared non-public information with other colleagues inside the firm about a block trade of shares in 2024, according to a person familiar with the matter.
The bank received a “show-cause notice” from the Securities and Exchange Board of India which outlines their accusations and asks for the bank’s reply, said the person, who asked not to be identified citing private information. Bank of America is preparing a response to the allegations, the person said.
A representative for the bank declined to comment. Representatives for SEBI didn’t immediately respond to ...
