The Securities and Futures Commission (SFC) on Thursday said it had started criminal proceedings against hedge fund Segantii Capital Management, its founder, director and chief investment officer Simon Sadler, and former trader Daniel La Rocca for the offence of insider dealing in the shares of a Hong Kong-listed company prior to a block trade in June 2017. In a statement, the SFC said the two defendants appeared at Eastern Magistrates' Court on Thursday and the case was adjourned to June 12. Sadler, a British businessman, is also the owner of Blackpool Football Club which competes in England's EFL League One division. Established in 2007, Segantii is one of the oldest and biggest hedge funds in Asia. Apart from Hong Kong, it also has operations in London, New York and Dubai, according to its website. (Additional reporting from Reuters)
