“If private individuals can seek civil remedies, why does the SFC have to wait?” Benjamin Yu, a lawyer representing the Securities and Futures Commission, told Hong Kong’s Court of Appeal today. The regulator is trying to overturn a court ruling that it lacks the power to unwind Tiger Asia’s transactions in the market and ban the hedge fund and employees from trading in Hong Kong before proving insider trading allegations in a tribunal or criminal court.
via Hong Kong Regulator Says It Should Be Able to Redress Investors – Businessweek.
