Mon, Jul 28, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hong Kong Court of Final Appeal confirms extended powers of SFC to prosecute New York hedge fund for insider trading

Wednesday, May 29, 2013

Bailey McCann, Opalesque New York:

Tiger Asia Management, a New York-based hedge fund will be prosecuted by the Hong Kong financial regulator following a landmark court decision handed down in Hong Kong on May 10. Hong Kong's Securities and Futures Commission (SFC), went after Tiger Asia Management for breaking trading rules in its market. Originally, the fund pushed back saying that it was US based and that the SFC exceeded its regulatory authority when it attempted to go after the fund for insider trading. The court however, has sided with the SFC, now the regulator will move forward with its case which is the latest in several recent prosecutions of insider trading in Hong Kong.

The SFC is moving aggressively on insider trading in Hong Kong. Tiger Asia Management had investments throughout Asia including China, Japan and Korea and the SFC said in its claim that it had the right to go after the firm on an extraterritorial basis. This claim is notable as it sets up an allowance for the regulator to pursue other firms outside of Hong Kong who engage in insider trading in the country.

According to the South China Morning Post, the regulator will now have to make its case through two court proce......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  4. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  5. Winton’s low-cost equities fund tops $1bn for first time[more]

    From FT.com: Winton, the London-based hedge fund, has increased the assets in its low-cost equities fund to more than $1bn for the first time in a sign that traditional stock managers may come under increasing pressure from computer-driven rivals. Winton, which manages about $25bn in total ass