Oasis Fined For Allegedly Manipulative Trade

Sep 15 2011 | 1:28pm ET

Hong Kong hedge fund Oasis Management and its head have been rapped by the city's securities regulator for alleged market manipulation.

The fund and Seth Fischer, its chief investment officer, were each fined HK$7.5 million (US$960,000), the Kong Kong Securities and Futures Commission said today. The regulator also reprimanded Oasis and Fischer for their trades in Japan Airlines Corp. five years ago which it said was designed to depress JAL's share price.

"The high fines underscore the SFC's determination to ensure Hong Kong's market remains an international and regional hub for high standards," Mark Steward, its head of enforcement, said.

Neither Oasis nor Fischer admitted or denied any wrongdoing; the hedge fund said it was "pleased to resolve this matter."


In Depth

Q&A: Jeff Eaton Talks Capital Raising, CalPERS And The Secondaries Market

Oct 14 2014 | 10:16am ET

Global placement agent Eaton Partners has raised close to $60 billion for some of...

Lifestyle

MacDonald-Korth Offers Insights Into Paintings Bought, Sold By Hedgies

Oct 7 2014 | 9:00am ET

Definitive and complete ratings require an in-person examination of an artwork,...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.