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China-Focused Siris Settles With U.S. SEC

Hedge World – A hedge fund manager known for his bullish bets on Chinese companies and two of his firms have agreed pay $1.1 million to settle allegations by U.S. securities regulators of wide-ranging misconduct, including insider trading and misleading investors.

The Securities and Exchange Commission on Monday [July 30] said Peter Siris, an author who invests in Chinese reverse mergers listed in the United States and offers consulting services, broke numerous laws, mostly in connection with his involvement with China Yingxia International, a company that collapsed in 2009 amid reports that its chief executive had committed fraud.

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