MUMBAI: Financial institution of America has positioned two funding bankers in India on administrative go away amid an inside investigation into alleged insider buying and selling inside its Asian operations, in response to a report within the Monetary Instances.
The investigation, initiated earlier this 12 months following a whistleblower grievance, is inspecting whether or not Financial institution of America staff and bankers in its Asian funding financial institution improperly disclosed details about upcoming secondary choices.This data might have allowed sure buyers to “entrance run” the inventory gross sales, cashing in on private data. The main points of the allegations and the identities of the people concerned haven’t been disclosed. Financial institution of America refused to touch upon the matter.
