Morningstar

Hong Kong Regulators Probe Financial Firms Over Alleged Insider Dealing

Provided by Dow Jones

By Sherry Qin 




  Hong Kong's securities regulator said it launched an operation alongside the city's anticorruption agency targeting alleged insider dealing at three entities. 



  The city's Securities and Futures Commission and the Independent Commission Against Corruption searched the offices of two securities firms and a hedge fund management firm on Tuesday and Wednesday, and arrested eight individuals, the SFC said Thursday. 



  The regulator alleged that senior executives of the licensed securities firms had accepted bribes from the owner of the licensed hedge fund management firm for disclosing confidential information. 



  The statement by the securities regulator didn't name the entities involved. 



  Guotai Junan International Holdings, a unit of China's Guotai Haitong Group, said earlier Thursday in an exchange filing that the SFC and the ICAC seized certain documents and one employee was detained. The securities firm said that it immediately suspended the employee's duties and that the company is operating normally. 



  Guotai Junan International didn't immediately reply to a request for comment. 



  Guotai Junan International's shares ended 4.2% lower at HK$2.51 on Thursday. 





  Write to Sherry Qin at sherry.qin@wsj.com 





  (END) Dow Jones Newswires



  March 12, 2026 04:27 ET (08:27 GMT)


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