'Bank Of America Is Losing Work Over Block-Trading Probe In Asia; Bank Removed From Upcoming IPO While It Investigates Alleged Sharing Of Nonpublic Information' - WSJ
Portfolio Pulse from Benzinga Newsdesk
Bank of America is facing business losses due to a block-trading probe in Asia, with allegations of employees sharing nonpublic information. This has led to the bank being removed from an IPO mandate by EQT and concerns from a Norwegian conglomerate.
October 09, 2024 | 5:36 pm
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Bank of America is losing business due to a block-trading probe in Asia, with allegations of sharing nonpublic information. This has resulted in the loss of an IPO mandate from EQT and concerns from other potential clients.
The allegations of sharing nonpublic information have directly led to the loss of business for Bank of America, including being removed from an IPO mandate by EQT. This indicates a negative impact on the bank's reputation and potential future business opportunities.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100