Monday, January 28, 2008
David Li, CEO of the Bank of East Asia and former director of Dow Jones & Co., reportedly will soon settle with the SEC allegations that he was involved in trading on inside information before the public announcement that News Corp. would seek to acquire Dow Jones. The settlement is said to require payment of $8 million, but will not include an officer or director ban. The SEC previously brought an action against a husband and wife, Kan King Wong and Charlotte Ka On Wong Leung, charging them with purchasing Dow Jones shortly before the announcement and subsequently selling it for a $8 million profit. Mr. Li is a friend of Ms. Leung's father, Michael Leung. WSJ, Ex-Dow Jones Director In Settlement With SEC.