$4.8 Billion Hong Kong Hedge Fund Segantii Capital Management to Return Capital to Investors, Hong Kong SFC Started Criminal Insider Dealing Prosecution Against Segantii, Founder & Chief Investment Officer Simon Saldar & Ex-Trader Daniel La Rocca, Insider Dealing Involved a Hong Kong-Listed Company Shares Prior to Block Trade in June 2017
23rd May 2024 | Hong Kong
Hong Kong $4.8 billion hedge fund Segantii Capital Management currently under legal proceedings for insider trading has announced to return capital to investors. On 2nd May 2024, the Hong Kong Securities & Futures Commission (SFC) started criminal insider dealing prosecution in Hong Kong court against $4.8 billion Hong Kong hedge fund Segantii Capital Management, founder & Chief Investment Officer Simon Saldar and ex-trader Daniel La Rocca. The insider dealing involved a Hong Kong-listed company shares prior to block trade in June 2017. In the latest update, the criminal insider dealing prosecution in Hong Kong court against $4.8 billion Hong Kong hedge fund Segantii Capital Management, founder & Chief Investment Officer Simon Saldar and ex-trader Daniel La Rocca may be moved to a District Court that can imposed jail sentences of 7 years compared to current Magistrates’ Court with jail sentences of 3 years. Hong Kong SFC (2/5/24): “The Securities and Futures Commission (SFC) has commenced criminal proceedings against Segantii Capital Management Limited (Segantii), its director and chief investment officer Mr Simon Sadler, and former trader Mr Daniel La Rocca for the offence of insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Limited prior to a block trade in June 2017 (Notes 1 to 3). No plea was taken when the defendants appeared at the Eastern Magistrates’ Court this morning and the case was adjourned to 12 June 2024. Sadler and La Rocca were released pending the next hearing on the following conditions: (i) cash bail of $1,000,000 and $500,000 respectively; (ii) they shall inform the SFC 24 hours before leaving Hong Kong, and to provide the SFC with full itinerary with contact details; (iii) they shall reside at the home address provided to the SFC and inform the SFC 48 hours in advance of any change of address and/or contact details whilst abroad; and (iv) they shall not contact either directly or indirectly any prosecution witnesses. No further comment will be made now that legal proceedings have commenced.” More info below:
“ $4.8 Billion Hong Kong Hedge Fund Segantii Capital Management to Return Capital to Investors, Hong Kong SFC Started Criminal Insider Dealing Prosecution Against Segantii, Founder & Chief Investment Officer Simon Saldar & Ex-Trader Daniel La Rocca, Insider Dealing Involved a Hong Kong-Listed Company Shares Prior to Block Trade in June 2017 “
Criminal Insider Dealing Prosecution in Hong Kong Court Against $4.8 Billion Hong Kong Hedge Fund Segantii Capital Management May be Moved to District Court that Can Imposed Jail Sentences of 7 Years Compared to Current Magistrates’ Court with Jail Sentences of 3 Years
23rd May 2024 – The Hong Kong Securities & Futures Commission (SFC) criminal insider dealing prosecution in Hong Kong court against $4.8 billion Hong Kong hedge fund Segantii Capital Management, founder & Chief Investment Officer Simon Saldar and ex-trader Daniel La Rocca may be moved to a District Court that can imposed jail sentences of 7 years compared to current Magistrates’ Court with jail sentences of 3 years. The insider dealing involved a Hong Kong-listed company shares prior to block trade in June 2017. The next hearing is scheduled for 12th June 2024. Hong Kong SFC (2/5/24): “The Securities and Futures Commission (SFC) has commenced criminal proceedings against Segantii Capital Management Limited (Segantii), its director and chief investment officer Mr Simon Sadler, and former trader Mr Daniel La Rocca for the offence of insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Limited prior to a block trade in June 2017 (Notes 1 to 3). No plea was taken when the defendants appeared at the Eastern Magistrates’ Court this morning and the case was adjourned to 12 June 2024. Sadler and La Rocca were released pending the next hearing on the following conditions: (i) cash bail of $1,000,000 and $500,000 respectively; (ii) they shall inform the SFC 24 hours before leaving Hong Kong, and to provide the SFC with full itinerary with contact details; (iii) they shall reside at the home address provided to the SFC and inform the SFC 48 hours in advance of any change of address and/or contact details whilst abroad; and (iv) they shall not contact either directly or indirectly any prosecution witnesses. No further comment will be made now that legal proceedings have commenced.” More info below:
JP Morgan & Nomura Have Limit Dealings & Exposure to $4.8 Billion Hong Kong Hedge Fund Segantii Capital Management after Hong Kong SFC Started Criminal Insider Dealing Prosecution Against Segantii, Founder & Chief Investment Officer Simon Saldar & Ex-Trader Daniel La Rocca, Insider Dealing Involved a Hong Kong-Listed Company Shares Prior to Block Trade in June 2017
9th May 2024 – JP Morgan & Nomura have limit dealings & exposure to $4.8 billion Hong Kong hedge fund Segantii Capital Management, after Hong Kong Securities & Futures Commission (SFC) started criminal insider dealing prosecution in Hong Kong court against $4.8 billion Hong Kong hedge fund Segantii Capital Management, founder & Chief Investment Officer Simon Saldar and ex-trader Daniel La Rocca. On 2nd May 2024, the Hong Kong Securities & Futures Commission (SFC) had started criminal insider dealing prosecution in Hong Kong court against $4.8 billion Hong Kong hedge fund Segantii Capital Management, founder & Chief Investment Officer Simon Saldar and ex-trader Daniel La Rocca. The insider dealing involved a Hong Kong-listed company shares prior to block trade in June 2017. The next hearing is scheduled for 12th June 2024. Ex-Merrill Lynch 14-year veteran banker Tony Psarianos has also been named in the Hong Kong Securities & Futures Commission (SFC) criminal insider dealing prosecution in Hong Kong court JP Morgan hiring of ex-hedge fund Segantii Capital Management trader Daniel La Rocca as Head of APAC Cash Stocks Trading has been terminated (personal reason). The next hearing is scheduled for 12th June 2024. Hong Kong SFC (2/5/24): “The Securities and Futures Commission (SFC) has commenced criminal proceedings against Segantii Capital Management Limited (Segantii), its director and chief investment officer Mr Simon Sadler, and former trader Mr Daniel La Rocca for the offence of insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Limited prior to a block trade in June 2017 (Notes 1 to 3). No plea was taken when the defendants appeared at the Eastern Magistrates’ Court this morning and the case was adjourned to 12 June 2024. Sadler and La Rocca were released pending the next hearing on the following conditions: (i) cash bail of $1,000,000 and $500,000 respectively; (ii) they shall inform the SFC 24 hours before leaving Hong Kong, and to provide the SFC with full itinerary with contact details; (iii) they shall reside at the home address provided to the SFC and inform the SFC 48 hours in advance of any change of address and/or contact details whilst abroad; and (iv) they shall not contact either directly or indirectly any prosecution witnesses. No further comment will be made now that legal proceedings have commenced.”
Ex-Merrill Lynch 14-Year Veteran Banker Tony Psarianos Named in Hong Kong SFC Criminal Insider Dealing Prosecution in Hong Kong Court Against $4.8 Billion Hong Kong Hedge Fund Segantii Capital Management, Founder & Chief Investment Officer Simon Saldar & Ex-Trader Daniel La Rocca, Insider Dealing Involved a Hong Kong-Listed Company Shares Prior to Block Trade in June 2017
4th May 2024 – Ex-Merrill Lynch 14-year veteran banker Tony Psarianos has been named in the Hong Kong Securities & Futures Commission (SFC) criminal insider dealing prosecution in Hong Kong court against $4.8 billion Hong Kong hedge fund Segantii Capital Management, founder & Chief Investment Officer Simon Saldar and ex-trader Daniel La Rocca. JP Morgan hiring of ex-hedge fund Segantii Capital Management trader Daniel La Rocca as Head of APAC Cash Stocks Trading has been terminated (personal reason). On 2nd May 2024, the Hong Kong Securities & Futures Commission (SFC) had started criminal insider dealing prosecution in Hong Kong court against $4.8 billion Hong Kong hedge fund Segantii Capital Management, founder & Chief Investment Officer Simon Saldar and ex-trader Daniel La Rocca. The insider dealing involved a Hong Kong-listed company shares prior to block trade in June 2017. The next hearing is scheduled for 12th June 2024. Hong Kong SFC (2/5/24): “The Securities and Futures Commission (SFC) has commenced criminal proceedings against Segantii Capital Management Limited (Segantii), its director and chief investment officer Mr Simon Sadler, and former trader Mr Daniel La Rocca for the offence of insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Limited prior to a block trade in June 2017 (Notes 1 to 3). No plea was taken when the defendants appeared at the Eastern Magistrates’ Court this morning and the case was adjourned to 12 June 2024. Sadler and La Rocca were released pending the next hearing on the following conditions: (i) cash bail of $1,000,000 and $500,000 respectively; (ii) they shall inform the SFC 24 hours before leaving Hong Kong, and to provide the SFC with full itinerary with contact details; (iii) they shall reside at the home address provided to the SFC and inform the SFC 48 hours in advance of any change of address and/or contact details whilst abroad; and (iv) they shall not contact either directly or indirectly any prosecution witnesses. No further comment will be made now that legal proceedings have commenced.”
JP Morgan Hiring of Ex-Hedge Fund Segantii Capital Management Trader Daniel La Rocca as Head of APAC Cash Stocks Trading Has Been Terminated, Hong Kong SFC Started Criminal Insider Dealing Prosecution in Hong Kong Court Against $4.8 Billion Hong Kong Hedge Fund Segantii Capital Management, Founder & Chief Investment Officer Simon Saldar & Ex-Trader Daniel La Rocca, Insider Dealing Involved a Hong Kong-Listed Company Shares Prior to Block Trade in June 2017
4th May 2024 – JP Morgan hiring of ex-hedge fund Segantii Capital Management trader Daniel La Rocca as Head of APAC Cash Stocks Trading has been terminated (personal reason). On 2nd May 2024, the Hong Kong Securities & Futures Commission (SFC) had started criminal insider dealing prosecution in Hong Kong court against $4.8 billion Hong Kong hedge fund Segantii Capital Management, founder & Chief Investment Officer Simon Saldar and ex-trader Daniel La Rocca. The insider dealing involved a Hong Kong-listed company shares prior to block trade in June 2017. The next hearing is scheduled for 12th June 2024. Hong Kong SFC (2/5/24): “The Securities and Futures Commission (SFC) has commenced criminal proceedings against Segantii Capital Management Limited (Segantii), its director and chief investment officer Mr Simon Sadler, and former trader Mr Daniel La Rocca for the offence of insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Limited prior to a block trade in June 2017 (Notes 1 to 3). No plea was taken when the defendants appeared at the Eastern Magistrates’ Court this morning and the case was adjourned to 12 June 2024. Sadler and La Rocca were released pending the next hearing on the following conditions: (i) cash bail of $1,000,000 and $500,000 respectively; (ii) they shall inform the SFC 24 hours before leaving Hong Kong, and to provide the SFC with full itinerary with contact details; (iii) they shall reside at the home address provided to the SFC and inform the SFC 48 hours in advance of any change of address and/or contact details whilst abroad; and (iv) they shall not contact either directly or indirectly any prosecution witnesses. No further comment will be made now that legal proceedings have commenced.”
Hong Kong SFC Starts Criminal Insider Dealing Prosecution in Hong Kong Court Against $4.8 Billion Hong Kong Hedge Fund Segantii Capital Management, Founder & Chief Investment Officer Simon Saldar & Ex-Trader Daniel La Rocca, Insider Dealing Involved a Hong Kong-Listed Company Shares Prior to Block Trade in June 2017
3rd May 2024 – The Hong Kong Securities & Futures Commission (SFC) has started criminal insider dealing prosecution in Hong Kong court against $4.8 billion Hong Kong hedge fund Segantii Capital Management, founder & Chief Investment Officer Simon Saldar and ex-trader Daniel La Rocca. The insider dealing involved a Hong Kong-listed company shares prior to block trade in June 2017. The next hearing is scheduled for 12th June 2024. Hong Kong SFC (2/5/24): “The Securities and Futures Commission (SFC) has commenced criminal proceedings against Segantii Capital Management Limited (Segantii), its director and chief investment officer Mr Simon Sadler, and former trader Mr Daniel La Rocca for the offence of insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Limited prior to a block trade in June 2017 (Notes 1 to 3). No plea was taken when the defendants appeared at the Eastern Magistrates’ Court this morning and the case was adjourned to 12 June 2024. Sadler and La Rocca were released pending the next hearing on the following conditions: (i) cash bail of $1,000,000 and $500,000 respectively; (ii) they shall inform the SFC 24 hours before leaving Hong Kong, and to provide the SFC with full itinerary with contact details; (iii) they shall reside at the home address provided to the SFC and inform the SFC 48 hours in advance of any change of address and/or contact details whilst abroad; and (iv) they shall not contact either directly or indirectly any prosecution witnesses. No further comment will be made now that legal proceedings have commenced.”
Notes:
- Segantii is a hedge fund management firm licensed under the Securities and Futures Ordinance (SFO) to carry on Type 9 regulated activities.
- Section 291 of the SFO prohibits insider dealing of listed securities of a listed corporation or their derivatives.
- A block trade is a purchase or sale of a large amount of shares in a single transaction. The buy and sell orders are privately negotiated between the buyer(s) and seller(s) through investment bank(s) and executed off-market to minimise price impact and avoid unwanted signalling to the public investors of the large-sized transaction.
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