Hong Kong Regulator Fines Hedge Fund Oasis, CIO for JAL Trade
This article is for subscribers only.
Hong Kong’s securities regulator fined hedge fund Oasis Management (Hong Kong) LLC, which helped manage more than $3 billion at its peak, and its chief investment officer for 2006 trades of Japan Airlines Corp. shares.
Hong Kong-based Oasis and CIO Seth Fischer have each been fined HK$7.5 million ($961,767), the Securities and Futures Commission said in a statement today. They have also been publicly reprimanded for the trades that the regulator alleged appeared to have been designed to drive down the closing price of the carrier and benefit Oasis funds.