Two US-based hedge fund managers have been ordered to pay HK$45m (US$5.8m) to compensate investors, having admitted to insider trading in Hong Kong after a fight to block the regulator from taking action against them.
Tiger Asia and two of its senior managers, Bill Sung Kook Hwang and Raymond Park, lost a string of appeals in the past two years as they tried to stop the Securities and Futures Commission from using a civil court process to punish them.
‘Enforcement 40’ for 2020
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