Bank of America is preparing to seek a multi-million-dollar settlement with the Securities and Exchange Board of India (SEBI). The action follows a SEBI investigation into a 2024 block trade.
The Indian regulator found BofA violated rules by sharing confidential information and misleading investors. These violations relate specifically to a $180 million transaction.
BofA is expected to pursue a settlement without admitting or denying wrongdoing, a common strategy for resolving regulatory matters. The situation highlights continued regulatory scrutiny facing international banks operating in the Indian market. Market reaction to this development remains unavailable.