Hong Kong authorities launch insider trading, corruption probe on brokers, hedge fund
The logo of the Independent Commission Against Corruption (ICAC) is seen outside its headquarters in Hong Kong March 30, 2012.REUTERS/Tyrone Siu
HONG KONG, March 12 : Hong Kong's Securities and Futures Commission said it launched an investigation with city's anti-corruption agency on insider trading and corruption activities.
The SFC and the Independent Commission Against Corruption (ICAC) on Monday and Tuesday raided two securities firms and a hedge fund, the two authorities said in a joint statement.
Eight individuals at the financial firms were targeted, in a probe tied to share placements, they said.
Source: Reuters
