Regulator’s pursuit of CITIC reveals legal flaws
CITIC is under the spotlight again over its infamous 2008 FX blow up. The news reveals weaknesses in Hong Kong’s securities laws.
Hong Kong’s Securities and Futures Commission (SFC) got tongues wagging after it sought legal action against former senior executives at CITIC (previously known as CITIC Pacific), to compensate investors who lost money due to the firm's HK$15.5 billion ($2 billion) worth of foreign exchange bets that went badly awry six years ago.
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