Two Chinese citizens in insider trading settlement with U.S. regulator
Two Chinese citizens including a former employee at private equity firm TPG Capital LP [TPG.UL] have agreed to pay $920,000 to resolve U.S. regulators' allegations they engaged in insider trading. The U.S. Securities and Exchange Commission announced the settlement on Monday with cousins and business associates Zhichen Zhou and Yannan Liu, whose assets were frozen after the regulator filed a lawsuit last month in Manhattan federal court.
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