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Bank of America Tightened Block Trade Rules After Esprit Deal

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Bank of America Corp. adopted new block‑trade guidelines months after a deal now at the center of a criminal trial involving a well-known hedge fund, a Hong Kong court heard Monday.

Prosecutors said the Wall Street bank introduced at least two new policies for some equities sales and trading employees after its involvement in a 2017 block trade in the shares of Esprit Holdings Ltd.

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