The Securities and Exchange Commission (SEC) has formally accused Jason Satsky, formerly a high-ranking Bank of America Corp. dealmaker, of insider trading. This accusation stems from an ongoing investigation by the Justice Department into whether Satsky tipped off an individual prior to an $8 billion takeover announcement in 2022. Satsky, who held the position of global head of power, utilities and energy infrastructure investment banking, was let go from Bank of America in March as part of a round of job cuts.
The investigation, led by the US Attorney's Office in Manhattan, focuses on his alleged involvement in sharing privileged information regarding an energy company's acquisition. The energy company in question was taken private by an investment firm backed by JPMorgan Chase & Co., and Satsky's group at Bank of America had advised on the deal. The probe has been active since at least May 2025, when news of the Justice Department's interest in the case first emerged.
Satsky's role as a senior banker overseeing significant transactions within the energy sector placed him in a position with access to sensitive, non-public information. The SEC's involvement indicates a civil enforcement action in addition to the criminal probe being conducted by the Justice Department. The outcome of these investigations could have significant implications for Satsky and potentially for how investment banks handle confidential information during large-scale mergers and acquisitions.
