Sydney pair convicted of insider trading
Two men who pleaded guilty on two counts of insider trading last year, have been convicted by the Supreme Court of NSW.
Former Moody's associate, Daniel Joffe, learned two companies were going to be, or likely to be, subject to takeover bids and passed the sensitive information to Nathan Stromer.
Stromer then bought and sold shares and contracts for difference in the companies that were about to be, or likely to be, subject to take over bids.
Joffe was sentenced on Friday to 27 months imprisonment and Stromer to 24 months imprisonment. Both sentences were fully suspended on the condition they pay a $1000 bond and be of good behaviour for two years. Stromer also paid a pecuniary penalty order of $229,349.87.
Recommended for you
There is one specific risk that is a significantly higher concern for financial services directors compared to companies overall and is impacting their risk appetite, according to the AICD.
Global fund managers are shunning bonds, with the asset class seeing the largest drop in allocations in more than 20 years.
Australian Ethical has seen its funds under management reach $10 billion, driven by organic customer growth and superannuation contributions.
Financial advisers will have access to private equity investments run by WTW for the first time as it launches a pooled fund to provide savers with access to traditionally institutional assets.