SFC probes Segantii for insider trading charges

The SFC pressed charges against the firm, its founder, and former trader.

The Securities and Futures Commission (SFC) has started the prosecution against Segantii Capital Management (Segantii), its founder, and former trader on charges of insider dealing in the shares of a Hong Kong-listed company before a block trade in June 2017.

The firm’s founder and chief investment officer, Simon Sadler, and former trader, Daniel La Rocca, were released under a few conditions, including a cash bail of $1,000,000 and $500,000, respectively.

Both must notify the SFC 24 hours before departing Hong Kong, furnish a complete itinerary and contact information, reside at the designated residence, and inform the SFC 48 hours before any changes in address or contact details while abroad.

The SFC also prohibits them from directly or indirectly contacting any prosecution witness.

The defendants abstained from pleading during the Eastern Magistrates’ Court session on May 2nd, leading to the case being adjourned to June 12th.