The Hong Kong Securities and Futures Commission said Monday it is seeking court orders to issue a trading ban against New York-based Tiger Asia hedge fund over alleged insider trading and market manipulation.

The SFC says Tiger Asia obtained inside information on Bank of China Ltd. The regulator said it would freeze $1.1 million in assets of Tiger Asia, hedge fund manager Bill Sung Kook Hwang and two other Tiger Asia officers, Raymond Park and William Tomita.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.