SFC begins insider dealing case against hedge fund
The Securities and Futures Commission (SFC) on Thursday said it had started criminal proceedings against hedge fund Segantii Capital Management, its founder, director and chief investment officer Simon Sadler, and former trader Daniel La Rocca for the offence of insider dealing in the shares of a Hong Kong-listed company prior to a block trade in June 2017. In a statement, the SFC said the two defendants appeared at Eastern Magistrates' Court on Thursday and the case was adjourned to June 12. Sadler, a British businessman, is also the owner of Blackpool Football Club which competes in England's EFL League One division. Established in 2007, Segantii is one of the oldest and biggest hedge funds in Asia.  Apart from Hong Kong, it also has operations in London, New York and Dubai, according to its website. In a statement on its website, Blackpool Football Club said the charges were entirely unrelated to the club, and its day-to-day operations would not be affected. "We understand that Mr Sadler will vigorously defend himself against the charge, and there will be no further comments at the time from the Club," the statement added. (Additional reporting from Reuters)_____________________________
Last updated: 2024-05-02 HKT 23:34 