智通財經APP獲悉，3月12日，香港特別行政區廉政公署發文指出，香港廉政公署與香港證監會於3月10日及11日開展聯合執法行動，打擊內幕交易及貪污行爲。三家持牌機構的高級管理人員，包括兩家證券公司和一家對衝基金管理公司，均被列爲該案的調查對象。

聯合行動期間，香港廉政公署及香港證監會人員共搜查了14處地點，包括上述持牌法團的辦公室及被捕人員的住所。香港廉政公署亦逮捕了六男兩女，年齡介於35歲至60歲之間。被捕人員包括兩家持牌證券公司及一家持牌對衝基金管理公司的高級管理人員，以及一名中間人。

據信，上述持牌證券公司的高級管理人員收受了持牌對衝基金管理公司所有者超過400萬港元的賄賂，在相關信息公開披露前，泄露了多家香港上市公司的配股機密信息。

憑藉這些內幕消息，這家持牌對衝基金管理公司通過在市場上賣空相關股票和/或訂立空頭股票互換合約，爲其對衝基金建立了相關股票的空頭頭寸。當配股消息公開後，相關股票的股價下跌，該對衝基金據稱從其空頭頭寸中獲利約3.15億美元。

消息人士透露，本週香港至少2家中資券商投行人員遭香港廉政公署上門調查。其中，國泰君安香港股票資本市場(ECM)主管潘舉鵬被帶走協助調查。

3月12日，國泰君安國際(01788)發佈公告稱，於2026年3月10日，香港證券及期貨事務監察委員會和廉政公署到訪公司香港主要營業地點執行搜查令，並帶走部分文件。公司亦獲知悉本公司一名僱員(非董事會成員)(相關僱員)被廉署拘留(調查)。公司對此高度重視，將繼續密切監察此事發展。

鑑於調查，公司已於2026年3月10日實時暫停相關僱員的所有營運及執行職務及權力，直至另行通知爲止。董事會確認，於本公告日期，集團整體業務及營運，包括投資銀行業務在內的所有業務板塊，均維持正常開展，公司財務穩健，各項經營活動合規有序地穩定進行。

據瞭解，ECM部門核心職能爲協助企業開展股本融資活動，包括港股IPO定價、新股配售、再融資等核心股本融資業務，因此市場人士普遍將此次執法行動與港股IPO監管相聯繫。另外，3月亦有媒體報道稱，香港證監會正加強對承銷IPO的銀行員工審查，加劇香港券商持續面對的人才短缺問題。

廉政公署公告原文如下：

ICAC and SFC joint operation in alleged insider dealings and corruption involving senior executives of licensed corporations

The Independent Commission Against Corruption (ICAC) and the Securities and Futures Commission (SFC) conducted a joint operation codenamed “Fuse” on March 10 and 11 targeting insider dealing and involving corruption. Senior executives of three licensed corporations, including two securities firms and a hedge fund management firm, were persons of interest in the case (Note 1).

During the joint operation, officers of the ICAC and the SFC searched a total of 14 locations, including the offices of the licenced corporations, as well as residences of the arrestees. The ICAC also arrested six men and two women, aged between 35 and 60. The arrestees included, among others, senior executives of the two licenced securities firms and the licensed hedge fund management firm, as well as a middleman (Note 2).

It is suspected that senior executives of the licenced securities firms had accepted bribes over $4 million from the owner of the licensed hedge fund management firm for disclosing confidential information regarding share placements of various Hong Kong - listed companies before such information was publicly announced.

Armed with such confidential information, the licensed hedge fund management firm established short positions for its hedge fund in the relevant stocks by short selling the stocks in the market and/or entering into short equity swap contracts. When the share placements were publicly announced, the share prices of the concerned stocks declined, and the hedge fund allegedly made profits of around $315 million from its short positions.

The joint operation stemmed from the SFC’s initial investigation of the suspected insider dealing activities, which uncovered potential corruption. The case was subsequently referred to the ICAC for investigation into suspected corruption, while the SFC focused on insider dealing and other misconduct under the Securities and Futures Ordinance.

As the investigation is ongoing, no further comments will be made by the ICAC and the SFC.

Notes:

1. The joint operation was conducted under the arrangement of the Memorandum of Understanding signed between the ICAC and the SFC.

2. The individuals involved are suspected of breaching the provisions under the Prevention of Bribery Ordinance, including offering advantages to agents and agents accepting advantages (i.e., offering and acceptance of bribes). Additionally, they are also suspected of committing offences under the Organized and Serious Crimes Ordinance, specifically handling property known or believed to represent proceeds of indictable offences (commonly known as “money-laundering”), offences under the Securities and Futures Ordinance involving insider dealings and other relevant crimes and misconducts.