Hong Kong Arrests Hedge Fund, Broker Staff in Insider Probe

Hong Kong’s financial regulators and anti-graft agency arrested eight people as part of an investigation into a HK$315 million ($40 million) insider dealing and corruption scheme involving two major brokerages and a hedge fund manager.

The joint operation, codenamed “Fuse,” targeted senior executives suspected of exchanging confidential information for bribes, according to a Thursday statement from the Securities and Futures Commission and the Independent Commission Against Corruption.