Bloomberg News

ASIC Investigates 23 Insider Trading, Market Manipulation Cases

February 07, 2012

Feb. 7 (Bloomberg) -- The Australian Securities and Investments Commission investigated 23 separate cases of possible insider trading, market manipulation or breaches of market integrity in the six months to December 2011.

Six of the matters referred for investigation involved potential insider trading, five were for market manipulation, nine for possible breaches of market integrity rules and three were related to continuous disclosure obligations, ASIC said in a statement released today.

A further four matters, identified during ASIC’s so-called participant surveillance visits, were related to possible breaches of market integrity rules, misleading and deceptive conduct and inappropriate advice.

The regulator said one case of insider trading and one case of market manipulation were successfully prosecuted during the period, while a further three people agreed to plead guilty to insider trading and three companies paid penalties.

ASIC assumed responsibility for market supervision and real-time surveillance of trading from the Australian Stock Exchange in August 2010. This includes supervision of Chi-X Australia, which commenced operations in October, 2011.

--Editor: John McCluskey

To contact the reporter on this story: Sarah Jones in Sydney at sjones35@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net -0- Feb/06/2012 22:57 GMT


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