Hong Kong’s Market Misconduct Tribunal has ordered Jonathan Dominic Iu Wai Ching, a former responsible officer of hedge fund Tarascon Capital Management (Hong Kong), to disgorge illicit profit of over $5.6m from false trading.
Asian regulators risk stifling trading activity and negatively impacting market liquidity as they intensify their oversight of strategies popular among hedge funds in a bid stabilise slumping markets, according to a report by Bloomberg.
The insider trading case involving Segantii Capital Management, its founder Simon Sadler and former trader Daniel La Rocca has been adjourned by a Hong Kong court until 15 October, according to a report by Reuters.
The Internal Revenue Service has formally apologised to Ken Griffin, founder of hedge fund giant Citadel, following the unauthorised release of his tax returns, according to a report by the Wall Street Journal.
Former Segantii Capital Management trader Robert Gagliardi has been implicated in a series of block trades involving insider information from Morgan Stanley, according to a report by the Financial Times.
Neil Phillips, co-founder of hedge fund firm Glen Point Capital, has been sentenced to probation instead of a two-year prison sentence for manipulating an exchange rate, partly because the victim was Morgan Stanley, according to a report by Bloomberg.
Terraform Labs and its former CEO, Do Kwon, have agreed to a $4.5bn settlement with the US. Securities and Exchange Commission following a jury verdict that held them liable for orchestrating a prolonged fraud involving crypto asset securities, according to
US federal financial regulators are lagging in their oversight of hedge funds’ use of AI for trading decisions, posing a serious threat to market stability, according to a report by FedScoop.
Frank Mercado, the owner of hedge fund firm Tiger-Wolf Capital, has admitted to wire fraud, confessing to defrauding over 100 victims out of more than $700,000 through a fraudulent investment scheme, according to a report by Business North Carolina.
The US Securities and Exchange Commission has imposed its first significant penalty as part of an extensive investigation into activist short sellers, fining Anson Funds Management and Anson Advisors a combined $2.5m, according to a report by Bloomberg.
