A former investment banker at regional brokerage CLSA and a fund manager yesterday both pleaded guilty to insider trading in Hong Kong, as the regulator continues its crackdown on the offence.
Insider trading was made a criminal offence in Hong Kong in 2003, and the Securities and Futures Commission only launched its first prosecution in February 2008. However, there have been seven insider-dealing convictions in the past 12 months, excluding yesterday's case, as the SFC has sought to tighten up enforcement.
Allen Lam, the former banker, admitted that he tipped off Ryan Fong in 2005 about plans by JCDecaux Pearl & Dean, an outdoor advertising company, to buy a 73.38 per cent stake in Hong Kong-listed Media Partners International Holdings.
您已阅读32%（746字），剩余68%（1577字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。