HK regulator suspends Credit Suisse prop trader


A convertible bond proprietary trader at Credit Suisse has left the bank after being suspended by Hong Kong's Securities and Futures Commission (SFC) for alleged insider trading.

The SFC said a representative of Daiwa Securities SMBC (Europe) in Geneva had contacted the trader, Stephane Hug, about a potential convertible bond issue by Tokyo-listed Sumitomo Light Metal Industries (SLM) in November 2003. Daiwa, the underwriter, had disclosed terms for the convertible bond to gauge Hug's interest on

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