HONG KONG (AP) -- Prominent Hong Kong banker David Li is expected to bounce back from an alleged insider trading scandal that forced him to resign from the Chinese territory's Cabinet over the weekend, analysts said Monday.Li, chairman and chief executive of Bank of East Asia, gave up his advisory post in Hong Kong leader Donald Tsang's cabinet, or executive council, late Saturday, two weeks after he agreed with the U.S. Securities and Exchange Commission to pay $8.1 million to settle insider trading charges linked to shares in Dow Jones & Co.
The U.S. regulator had alleged Li, a former Dow Jones board member, tipped off a close friend about the $5 billion takeover bid by Rupert Murdoch's News Corp. for the financial news company, before it was made public.
Li neither admitted nor denied wrongdoing under the settlement.
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