Hong Kong authorities launch insider trading, corruption probe on brokers, hedge fund
Reuters03-12
Hong Kong authorities launch insider trading, corruption probe on brokers, hedge fund
HONG KONG, March 12 (Reuters) - Hong Kong's Securities and Futures Commission said it launched an investigation with city's anti-corruption agency on insider trading and corruption activities.
The SFC and the Independent Commission Against Corruption (ICAC) on Monday and Tuesday raided two securities firms and a hedge fund, the two authorities said in a joint statement.
Eight individuals at the financial firms were targeted, in a probe tied to share placements, they said.
(Reporting by Selena Li and Summer Zhen in Hong Kong; Editing by Christian Schmollinger)
((Selena.Li@thomsonreuters.com; +852 39525868;))
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