Tiger Asia pays out to the US SEC

US authorities have announced a fine of some US44m against Tiger Asia in relation to similar issues that the HK SFC has been pursuing them over.

A link to the SEC announcement is here.

The SEC specifically mentioned help from the Japanese FSA and the SFC in Hong Kong in investigating the case.

It is interesting on a number of levels but probably to us as it shows that while there are some technical legal obstacles to the HK SFC bringing a criminal prosecution for actions taken outside of Hong Kong in relation to insider dealing, the US criminal justice system seems to have been able to find the relevant provisions to seek redress.

A salutory reminder to all trading firms.