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HK Fines Oasis And CIO For Stock Trade
Source: Bloomberg News |
September 16, 2011, Friday
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Print Edition
Print Edition
HONG Kong's securities regulator fined hedge fund Oasis Management (Hong Kong) LLC, which helped manage more than US$3 billion at its peak, and its chief investment officer for 2006 trades of Japan Airlines Corp shares.
Hong Kong-based Oasis and CIO Seth Fischer have each been fined HK$7.5 million (US$961,767), the Securities and Futures Commission said in a statement yesterday. They have also been publicly reprimanded for the trades that the regulator alleged appeared to have been designed to drive down the closing price of the carrier and benefit Oasis funds.
SFC has followed in the footsteps of global regulators to step up scrutiny of hedge funds.
Hong Kong-based Oasis and CIO Seth Fischer have each been fined HK$7.5 million (US$961,767), the Securities and Futures Commission said in a statement yesterday. They have also been publicly reprimanded for the trades that the regulator alleged appeared to have been designed to drive down the closing price of the carrier and benefit Oasis funds.
SFC has followed in the footsteps of global regulators to step up scrutiny of hedge funds.
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