MUMBAI (Jan 8): India’s markets regulator has accused a Bank of America (BofA) unit of violating its insider trading rules and breaking internal "Chinese walls" in connection with a 2024 share sale, a notice showed. The investigation found that the bank's deal team, while holding unpublished price-sensitive information on the share sale, contacted potential investors "directly/indirectly", it said. “The conduct highlights the failure of (the bank's) deal team to maintain Chinese walls with broking/research arms, impacting safekeeping of confidential information and internal controls,” SEBI said. The Wall Street Journal first reported the SEBI notice to the bank. In another instance, the deal team requested the Apac syndicate team in Hong Kong — not a part of the deal team — to seek feedback from Norges Bank on its interest in the offering.

Source: The Edge Markets January 08, 2026 04:56 UTC