SFC begins tribunal proceedings against Tiger Asia

Hong Kong’s securities regulator has accused Tiger Asia and three of its executives of insider trading. The Securities and Futures Commission announced yesterday it instigated a formal market misconduct tribunal against the New York-based hedge fund and Bill Hwang, Raymond Park and William Tomita on trades executed on Bank of China and China Construction Bank Corporation shares. The SFC initially sought to freeze Tiger Asia’s assets back in August 2009 after it found that on Jan…