By Sindhu Sundar
Law360, New York (July 27, 2012, 10:59 PM ET) -- The U.S. Securities and Exchange Commission on Friday got the OK to freeze $38 million in assets belonging to traders who allegedly netted more than $13 million through insider trades based on China National Offshore Oil Co. Ltd.’s announcement of its plans to buy Canada-based Nexen Inc.
The agency said it had secured an emergency court order to freeze the accounts of traders including Hong Kong-based firm Well Advantage Ltd., run by Hong Kong businessman Zhang Zhi Rong, who has links to CNOOC.
In complaint filed...