UPDATED: Tiger Asia decision raises concerns

Tiger Asia lost its final appeal on April 30 in its challenge on the jurisdiction of Hong Kong’s courts to hear this case under section 213 of the Securities and Futures Ordinance. This has some market participants concerned about the potential severity of any sanctions and over the Securities and Futures Commission's growing use of section 213 in this and other cases. The Court of Final Appeal's (CFA) decision opens the way for the SFC to seek to freeze the hedge fund's assets …