SEBI Alleges Insider Trading by EY, PwC, Carlyle and Advent in Yes Bank Share Sale

The Securities and Exchange Board of India issued a show cause notice accusing executives at EY, PwC, Carlyle and Advent of sharing unpublished price sensitive information linked to a 2022 Yes Bank share sale.

The notice alleged that confidential deal details were passed to family members and friends who traded in Yes Bank shares ahead of the July 2022 capital raising, in which Carlyle and Advent bought a combined 10 per cent stake for $1.1 billion.

SEBI said weak compliance systems at EY and PwC allowed the misuse of sensitive information.

The accused individuals and firms are submitting their responses and may face penalties or restrictions under securities law.