Bank of America Tightened Block-Trade Rules After 2017 Esprit Share Sale

5 articles · Updated · Bloomberg · May 11

Bank of America adopted new block-trade guidelines months after its role in a 2017 Esprit Holdings share sale, a Hong Kong court heard Monday.
Prosecutors said the bank introduced at least two new policies for some equities sales and trading employees following that transaction.
The Esprit deal is now central to a criminal trial involving a well-known hedge fund, putting the bank's post-trade controls under scrutiny.

After a leak collapsed a top hedge fund, can new bank rules truly safeguard billion-dollar block trades?

A bank insider will testify against a 'block trade king.' Is this one rogue trader or a systemic industry flaw?