Bank of America Securities India has agreed to pay ₹5.9 million (approximately $61,903) to settle allegations of insider trading and merchant banking rule violations with the Securities and Exchange Board of India (SEBI). The SEBI's settlement order indicated that BofA failed to maintain the required structured digital database as mandated by insider trading regulations. The allegations stemmed from BofA's involvement in managing a share sale for Aditya Birla Sun Life Asset Management in March 2024, during which the firm was accused of contacting potential investors while in possession of unpublished price-sensitive information. Additionally, the SEBI alleged that BofA suppressed material facts and made false statements during its investigation, which was prompted by a whistleblower complaint in 2024. BofA has declined to comment on the settlement or the allegations but agreed to resolve the matter without admitting or denying the claims.