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SEBI may probe Credit Suisse

img_0074SEBI may investigate the domestic unit of Credit Suisse Group to determine whether price sensitive information about a share deal that the authority has ruled to be insider trading was leaked by the investment bank. SEBI had accused Hong Kong-based multi-asset fund Factorial Capital Management of shorting L&T Finance Holdings before the announcement of a share sale in mid-March. SEBI said it may probe whether Credit Suisse staff had revealed to Factorial that the L&T Finance deal would be done at a discount, but the regulator did not accuse the bank of any wrongdoing. Instead, the regulator focused its investigation on Factorial, barring the hedge fund from trading Indian securities. The hedge fund has 21 days to respond. In a statement, Factorial said the allegations by SEBI were ‘without merit’ and that it would fully cooperate with the investigation.

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