Hong Kong’s Securities and Futures Fee (SFC) has commenced legal proceedings towards Hong Kong-based hedge fund Segantii Capital Administration, its director and chief funding officer Simon Sadler, and former dealer Daniel La Rocca, for insider dealing within the shares of an organization listed on the Hong Kong Inventory Trade (HKEX) previous to a block commerce in June 2017.
The title of the corporate was not recognized by the SFC.
No plea was taken when the defendants appeared on the Japanese Magistrates’ Courtroom on Might 2, and the case was adjourned to June 12, 2024, the SFC stated in a statement.
Sadler and La Rocca had been launched pending the following listening to on the next circumstances: (i) money bail of $1 million and $500,000 respectively; (ii) they shall inform the SFC 24 hours earlier than leaving Hong Kong, and to supply the SFC with full itinerary with contact particulars; (iii) they shall reside on the residence deal with offered to the SFC and inform the SFC 48 hours prematurely of any change of deal with and/or contact particulars while overseas; and (iv) they shall not contact both straight or not directly any prosecution witnesses.
The SFC stated that no additional remark might be made now that authorized proceedings have commenced.
Sadler based Segantii in 2007 and in addition owns Blackpool Soccer Membership within the UK. Segantii has workplaces in Hong Kong, London, New York and Dubai, in line with its web site.
FinanceAsia has reached out to Segantii Capital Administration for remark.
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