A prominent hedge fund manager took advantage of a bank’s “wholesale collective failure” to prevent illicit trading, making HK$1.7 million in a single day by using confidential information to sell shares in a Hong Kong fashion house nine years ago, prosecutors alleged on Tuesday. British-born investor Simon Sadler is on trial at the District Court alongside the now-defunct Segantii Capital Management and former employee Daniel Anthony La Rocca Jnr over alleged insider dealing in the shares of...