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Insider trading

Analysis and Comment (7)

On the retreat. Hedge fund manager Steve Cohen. On the retreat. Hedge fund manager Steve Cohen. Justin Lane/EPA

SAC Capital and the curious economics of insider trading

A US judge has approved a US$1.2 billion settlement and accepted a guilty plea by hedge fund SAC Capital in what has been described as the largest insider trading settlement in the country’s history. Eight…
ASIC Commissioner Greg Tanzer has this week faced the scrutiny of a Senate committee hearing. ASIC Commissioner Greg Tanzer has this week faced the scrutiny of a Senate committee hearing. AAP/Paul Miller

Low penalties, high costs: ASIC needs legislative reform

In 2005, the Federal Court faced the difficult task of arriving at a penalty for Steve Vizard after he was found in breach of his duties as a director of Telstra. In his judgment, Raymond Finkelstein criticised…
Former Gunns chairman John Gay is the most senior executive to have been convicted of insider trading in Australia. He received a fine of $50,000. Former Gunns chairman John Gay is the most senior executive to have been convicted of insider trading in Australia. He received a fine of $50,000. David Beniuk/AAP

Insider trading gets more scrutiny, but convictions may not flow

The Australian Securities and Investments Commission is moving to “real-time” monitoring of share trading as another weapon in the ongoing fight against insider trading. But will the use of this form of…
The SEC is going after one of the world’s largest hedge funds in a civil suit. But will the action act as a deterrent against insider trading? The SEC is going after one of the world’s largest hedge funds in a civil suit. But will the action act as a deterrent against insider trading? Image from www.shutterstock.com

A hedge on the edge: SAC Capital’s insider trading scandal

After causing the collapse of the Galleon Group hedge fund in 2009, insider trading enforcements have once again shaken the hedge fund industry. Late last week, the US Securities and Exchange Commission…
Australia’s listed companies face tough insider-trading regulation, but aspects of the law are untested. Australia’s listed companies face tough insider-trading regulation, but aspects of the law are untested.

Charges against former Gunns boss John Gay may test insider trading laws

Former Gunns chairman John Gay is facing insider trading charges after he allegedly sold more than $3 million worth of the beleaguered timber company’s shares just months before its share price plunged…
Former Goldman Sachs and Procter & Gamble director Rajat Gupta faces securities fraud charges. Former Goldman Sachs and Procter & Gamble director Rajat Gupta faces securities fraud charges. AAP

Trading on reputation: the trials of Rajat Gupta and the SEC

The Department of Justice in the United States has significantly broadened the reach of its investigation into insider trading. The charging of a former director of Goldman Sachs and Procter & Gamble…
Insider trading detection in Australia has evolved, but ASIC still needs a win. Insider trading detection in Australia has evolved, but ASIC still needs a win. AAP

Hanlong insider trading case will test ASIC’s resolve

Five senior executives of the Chinese-owned investor Hanlong Mining have had assets frozen after the Australian Securities and Investments Commission (ASIC) launched an investigation into alleged insider…