SEBI Slams Bank of America with Notice Over Confidential Info Leak, Misleading Probe

• SEBI issued a show-cause notice to Bank of America in November over alleged leak of Material Non-Public Information (MNPI).
• The leak involved a USD 180 million block trade of Aditya Birla Sun Life AMC shares in 2024.
• Allegations include sharing confidential data with unauthorized employees and providing false/incomplete information to investigators.
• Bank of America is accused of failing to implement adequate internal controls to protect sensitive capital market information.
• The bank is preparing its response and may pursue a multi-million dollar settlement without admitting wrongdoing.

Why It Matters: SEBI's action highlights strict enforcement against banks for leaking sensitive market data and misleading probes.