Reuters – A small Japanese hedge fund has made a rare challenge against financial regulators over a 2010 insider trading case, disputing a finding that one of its fund managers acted on an insider tip of a share offering by energy firm Inpex Corp.
The Securities and Exchange Surveillance Commission (SESC)previously found a fund manager at Stats Investment Management sold Inpex shares on insider information from a Nomura Securities salesman, based on the salesman’s admission of providing information to Stats as well as to Nissay Asset Management and Finno Wave Investments.
