SEBI accuses top finance execs of insider trading in Yes Bank deal
SEBI has called out 19 people—including senior folks from EY India, PwC India, Carlyle Group, and Advent International—for alleged insider trading during Yes Bank's big share sale in July 2022.
They're accused of leaking secret info about the bank's fundraising plans to friends and family, who then traded shares for quick profits.
What actually happened?
According to SEBI, these insiders passed on confidential details (known as UPSI) to five close contacts. Those contacts used the tip-off to buy or sell shares before the news went public—allegedly making unlawful gains.
Most of those named are still with their companies and are now preparing responses to SEBI's notice.
The regulator also flagged weak compliance at some firms—like limited stock restrictions at EY India and none at PwC India—as a concern for future cases.