SEBI Accuses Senior Officials of PwC, EY, Carlyle, Advent of Yes Bank Insider Trading

• SEBI has accused current and former senior officials from PwC, EY, Carlyle Group, and Advent International of insider trading related to Yes Bank's 2022 share sale.
• The allegations, detailed in a non-public regulatory notice reviewed by Reuters, involve sharing unpublished price sensitive information (UPSI).
• Seven individuals, including officials and their associates, allegedly made illegal gains by trading Yes Bank shares before the July 2022 offer.
• A former Yes Bank board member is also accused of sharing price-sensitive information.
• This rare regulatory action follows an investigation into Yes Bank share activities prior to Carlyle and Advent acquiring a 10% stake for $1.1 billion.

Why It Matters: SEBI has initiated formal action against senior officials of major firms for alleged insider trading in Yes Bank shares.