Hong Kong regulator brings insider trading charges against Segantii and its founder

HONG KONG : Hong Kong’s securities regulator began an insider dealing prosecution in opposition to hedge fund Segantii Capital Management, its founder and a venerable dealer, the watchdog said on Thursday.

The Hong Kong Securities and Futures Commission (SFC) said it had began criminal court docket cases in opposition to Segantii, its founder and chief funding officer Simon Sadler, and venerable dealer Daniel La Rocca for insider dealing within the shares of a Hong Kong-listed firm earlier than a block trade in June 2017.

Segantii did not straight away answer to a Reuters search knowledge from for commentary and the 2 defendants may maybe presumably maybe not be contacted.

Sadler, a British businessman, will be owner of his home of beginning soccer membership, Blackpool Football Membership.

Established in 2007, Segantii is one in all the oldest and excellent hedge funds in Asia. Its flagship Asia-Pacific Fairness Multi-Procedure Fund used to be up 2.5 per cent within the indispensable quarter, after a 1.6 per cent decline in 2023, in response to a fund’s monthly letter considered by Reuters.

The fund managed about $4.8 billion at the tip of March, the letter said.

Segantii, one in all Hong Kong’s most high profile hedge funds, also has operations in London, Fresh York and Dubai, in response to its net home.

The two defendants regarded at Hong Kong’s Eastern Magistrates’ Courtroom on Thursday morning, no plea used to be taken and the case used to be adjourned to June 12, SFC said in an announcement.

Sadler and La Rocca had been launched pending the following hearing below obvious prerequisites, in conjunction with money bail of $1 million and $500,000 respectively, SFC added.