BofA Securities India Resolves Insider Trading Allegations with Sebi
BofA Securities India settles alleged insider trading matter with Sebi
Business Standard
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BofA Securities India has settled an insider trading case with the Securities and Exchange Board of India (Sebi) by paying ₹58.5 lakh (approximately $70,000 USD). The settlement follows allegations of failing to maintain a structured digital database as required under insider trading regulations, with the case dating back to May 2025.
- 01BofA Securities India paid ₹58.5 lakh to settle insider trading allegations.
- 02The case involved failure to maintain a structured digital database as required by regulations.
- 03Sebi issued a show-cause notice in May 2025, leading to the settlement process.
- 04The settlement application was filed in July 2025 without admitting to the allegations.
- 05Sebi approved the settlement in April 2026 after recommendations from its advisory committee.
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BofA Securities India has settled an insider trading case with the Securities and Exchange Board of India (Sebi) by paying ₹58.5 lakh (approximately $70,000 USD). The allegations stemmed from the firm's failure to maintain a structured digital database (SDD), a requirement under the Prohibition of Insider Trading (PIT) Regulations. Sebi had issued a show-cause notice to BofA in May 2025, prompting the firm to file a settlement application in July 2025 without admitting or denying the findings. In February 2026, Sebi's high-powered advisory committee recommended the settlement amount, which was approved by the regulator's panel of whole-time members in April 2026. Following the payment, Sebi has disposed of the proceedings, concluding the matter.
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This settlement may enhance regulatory compliance among financial institutions in India, potentially leading to stricter adherence to insider trading regulations.
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