Market regulator SEBI has accused current and former executives at the Indian units of global consulting firms PwC and EY of violating insider trading rules in connection with Yes Bank’s 2022 share sale, according to a regulatory notice. The action is seen as a rare case where senior executives from major consulting firms and private equity groups have faced allegations tied to a capital-raising deal.
SEBI also alleged that executives at U.S.-based private equity firms Carlyle Group and Advent International shared unpublished price sensitive information related to the transaction. The regulator said the sharing of such information breached insider trading regulations.
The notice, reviewed by Reuters, highlights SEBI’s continued focus on monitoring market conduct and protecting investor interest.
SEBI Flags Insider Trading Violations Linked to Yes Bank’s 2022 Share Sale
