Bill Hwang and his hedge fund Tiger Asia have been handed a ban in Hong Kong. Separately, Hong Kong's SFC has disciplined the former chairman of PFC International.
HK, Singapore complete Fatca talks; insider traders face Hong Kong ban; Australia eyes deregulation; EU reconfirms transaction tax; HK issues product approval guidelines; US gives green light on OTC Clear.
New e-trading rules start in Hong Kong, SFC cuts lapse time for approvals, Tiger Asia case ends, US derivatives regulator approves SGX and CFTC allows local compliance.
Hong Kong's securities regulator started tribunal proceedings against Tiger Asia for alleged insider trading that took place in 2008 and 2009.
The case involving the US hedge fund has caused worries over the use of section 213 of the Securities and Futures Ordinance by Hong Kong's securities regulator.
Hong Kong’s Court of Appeal ruled that the Securities and Futures Commission can proceed with its case against Tiger Asia for alleged insider trading.