Hong Kong’s financial regulator has launched criminal proceedings in an insider dealing case against hedge fund Segantii Capital Management and its founder and director, Blackpool Football Club owner Simon Sadler.
The Chinese territory’s Securities and Futures Commission said on Thursday it had also started proceedings against former Segantii trader Daniel LaRocca.
According to an SFC statement, the charges relate to dealing in the shares of an unnamed company listed on the Hong Kong Stock Exchange before a block trade in June 2017. A block trade is an off-market purchase or sale of a large amount of shares in a single transaction.
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