Hong Kong’s securities watchdog started criminal proceedings against Segantii Capital Management Ltd. founder Simon Sadler and its former trader Daniel La Rocca over alleged insider dealing, prosecuting one of the most high-profile hedge funds in the city.
The Securities and Futures Commission alleged wrongdoing involving shares of a locally listed company before a 2017 block trade. Sadler and La Rocca appeared in the city’s Eastern Magistrates’ Court Thursday morning. The case was adjourned to June 12.