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: Omni Macro Fund Bullish On India, Watching China

Mar 4 2015 | 3:35pm ET

Omni Macro Fund was formed in 2007 by Stephen Rosen, previously a prop trader at...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Managing Diversification And Drawdowns In The “New Normal”

Mar 5 2015 | 2:42pm ET

In 2008-2009 diversification alone failed to provide adequate risk management for...

 

Editor's Note