US EditionHong Kong authorities arrest eight in insider trading probe into hedge fund, brokers
Authorities arrested eight, including senior executives, in a probe where a hedge fund allegedly earned $315 million from insider trading and bribery in share placements.
- On March 12, Hong Kong authorities launched an insider trading probe into two brokerages and a hedge fund, arresting eight people in their biggest crackdown in recent years during operation 'Fuse'.
- Authorities allege the hedge fund owner offered more than $4 million in bribes and made around $1 billion from short positions, with Guotai Junan International's employee detained and suspended.
- Guotai Junan International said it attaches importance to the matter and will monitor developments, while its operations continue normally and the SFC and ICAC did not reply to requests for comment.
- Shares in Guotai Junan International closed 4.2% lower and Guotai Haitong fell by the same amount as the case piles pressure on IPO sponsors amid heavy deal flow in Hong Kong's equity market.
- Hong Kong's IPO boom, with more than 400 companies waiting to list, follows last year's top listing venue status and signals potential intensified supervision of brokers and IPO sponsors.
14 Articles
14 Articles
Hong Kong authorities arrest 8 over alleged insider trading involving brokerages, hedge fund
Hong Kong’s anti-graft watchdog and financial regulator have arrested eight people and raided the offices of three firms over suspected insider dealing and corruption worth HK$315 million in illicit profits. The Independent Commission Against Corruption (ICAC). File photo: Kyle Lam/HKFP. The Independent Commission Against Corruption (ICAC) and the Securities and Futures Commission (SFC) said on Thursday that they conducted a joint operation, cod…
Observador
Noticias ao MinutoThe search took place on Wednesday in the division of capital markets of the Citic Securitys and Guatemala Junan International. The semi-automatic region recorded the beginning of the most active year ever in the sector.
Hong Kong Probes Insider Trading at Two Brokers, Hedge Fund Firm
Hong Kong’s financial regulators and anti-graft agency arrested eight people as part of an investigation into a HK$315 million ($40 million) insider dealing and corruption scheme involving two major brokerages and a hedge fund manager.
Hong Kong authorities raid two brokers and a hedge fund in crackdown on insider trading
HONG KONG, March 12 : Hong Kong authorities said on Thursday they had launched an insider trading probe into two brokerages and a hedge fund, arresting eight people in its biggest crackdown on the financial industry in recent years.The announcement didn't name the firms but brokerage Guotai Junan Internationa
Coverage Details
Bias Distribution
- 56% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
