SFC Says Ready To Help Police Over Next Media Probe

The Securities and Futures Commission says it is ready to help the police with an investigation into recent trading of Next Digital shares, if the force wants it to. Police arrested 15 people on Thursday on suspicion of conspiracy to defraud and money laundering, relating to a price surge in Next Digital shares after its founder Jimmy Lai was arrested under the national security law last month.

The SFC says under a memorandum of understanding it has with the police, both parties have committed to cooperate "to the fullest extent possible" to perform their regulatory and enforcement functions.

It points out there are offences, like money laundering, in which both the SFC and the police have jurisdiction, and says it can use its powers to obtain information to pass on to the force.