Hong Kong’s securities watchdog started criminal proceedings against Segantii Capital Management Ltd. along with its founder Simon Sadler and former trader Daniel La Rocca over alleged insider dealing, marking one of the most high-profile financial prosecutions in the Asian financial hub.
The Securities and Futures Commission alleged wrongdoing involving shares of a listed company before a 2017 block trade. Sadler and La Rocca appeared in the city’s Eastern Magistrates’ Court Thursday without making a plea, according to a statement from the regulator. The case was adjourned to June 12.