BofA Securities settles insider trading case with Sebi for ₹58.5 lakh. Bank of America Securities India has resolved regulatory proceedings with India's Securities and Exchange Board by agreeing to pay a settlement amount of fifty-eight point five lakh rupees. The case centered on alleged violations of insider trading regulations, specifically the failure to maintain a properly structured digital database as mandated by securities law. Sebi had previously issued a show cause notice questioning why the merchant banking subsidiary did not comply with the requirement to establish and maintain a structural digital database for monitoring and preventing insider trading activities. Such databases are critical regulatory tools that financial institutions must use to track sensitive information and restrict access to prevent unfair trading advantages.
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