The Securities and Futures Commission (SFC) has taken legal action against Segantii Capital Management Limited (Segantii), its director and chief investment officer Mr Simon Sadler, and former trader Mr Daniel La Rocca for allegedly engaging in insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Limited. The charges relate to a block trade that took place in June 2017. During their appearance at the Eastern Magistrates’ Court, no plea was entered, and the case was adjourned to June 12, 2024.
In the meantime, Sadler and La Rocca have been released on certain conditions. They have each provided cash bail, with Sadler’s bail set at $1,000,000 and La Rocca’s at $500,000. Additionally, they must notify the SFC 24 hours in advance of leaving Hong Kong, provide the SFC with a detailed itinerary and contact information, and reside at the address they have provided to the SFC. Furthermore, they are required to inform the SFC 48 hours in advance of any changes to their address or contact details while abroad. Lastly, they are prohibited from making direct or indirect contact with any prosecution witnesses. As the legal proceedings are now underway, no further comments will be made at this time.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR82