Corporations Act offences

ASIC investigation into remuneration arrangements & SMSF advice

For a Queensland client in ongoing ASIC investigation and potential enforcement action re suspected contraventions of the conflicted remuneration prohibitions in Division 4 of Part 7.7A of the Corporations Act and financial advice concerning establishment of self-managed superannuation funds (current matter).

>> On 28 June 2018, ASIC released two related reports: 

ASIC investigation into suspected insider trading

For the executive director of an ASX listed entity in ASIC investigation into suspected insider trading in the listed entity’s shares contrary to Division 3 of Pt 7.10 of the Corporations Act and potential continuous disclosure breaches (2016-2017).

>> On 17 February 2017, a "no action" letter was successfully obtained from ASIC.

 

ASIC Banning Hearing for unlicensed discretionary trading

For Macquarie Equities options trader in ASIC investigation and banning hearing for contraventions of the Corporations Act 2001 (Cth) for unlicensed discretionary options trading and falsification of records.

ASIC Media Release