SEC Probes Susquehanna Insider Trades; Firm Sues Over $100M Put-Option Profits
- The SEC is examining insider-trading allegations that Susquehanna International Group lodged in a June 29 Manhattan federal lawsuit, in which the market-maker claims up to 100 unidentified traders pocketed more than $100 million trading put options on Futu Holdings and Up Fintech ahead of a May 22 Chinese regulatory crackdown, costing Susquehanna over $70 million as counterparty.
- A federal judge granted a temporary restraining order on June 30 allowing account freezes and subpoenas to identify the traders, per Bloomberg.
- The case spotlights how offshore brokerages and event-driven put activity around overseas regulatory shocks can trigger US enforcement, with the SEC piggy-backing on the private suit.