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Clifford Chance

Clifford Chance
Briefings

Briefings

Short circuit – short seller guilty of Hong Kong market misconduct

5 September 2016

Hong Kong's Market Misconduct Tribunal (MMT) has found short seller Andrew Left culpable of market misconduct, in a case marking the Securities and Futures Commission's (SFC) first direct action against short sellers.

Short selling analysts such as Left's Citron Research, Glaucus and Muddy Waters, set out to find problems with the accounts of listed companies and rely on the media to disseminate their reports.

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