Clifford Chance
Offshore hedge fund applies to strike out SFC's application to freeze its assets in Hong Kong's High Court
16 June 2011
A two-day hearing has just concluded in Hong Kong's High Court in which the securities regulator, the Securities and Futures Commission (SFC), has argued that under section 213 of the Securities and Futures Ordinance, the SFC has a freestanding and broad power when dealing with market misconduct offences to make final orders freezing the assets of a New York-based hedge fund, Tiger Asia Management, worth HK$38.5 million and to prevent it from operating in Hong Kong.
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