SEBI Settles Insider Trading Case with BofA Securities for Rs 58.5 Lakh
SEBI has settled proceedings against BofA Securities India Ltd for alleged insider trading violations after the firm paid Rs 58.5 lakh. BofA was accused of not maintaining the necessary Structured Digital Database as required by SEBI's regulations. The case is resolved with no further actions anticipated.
On Monday, the Securities and Exchange Board of India (SEBI) concluded proceedings against BofA Securities India Ltd, following the payment of Rs 58.5 lakh by the merchant banker as a settlement for insider trading allegations.
SEBI's allegations centered around the merchant banker's failure to maintain the Structured Digital Database, a requirement under Prohibition of Insider Trading (PIT) regulations. A show-cause notice was issued to BofA Securities India on May 26, 2025.
Following a recommendation from SEBI's High Powered Advisory Committee, the matter was settled with the approved payment. SEBI confirmed the settlement amount on May 4, 2026, thus closing the adjudication proceedings without further action, pending compliance with settlement terms.
(With inputs from agencies.)
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