WA man charged with insider trading
A West Australian man has been charged by the Australian Securities and Investments Commission (ASIC) with offences relating to insider trading.
Cameron Waugh of Cottesloe, WA, was charged by ASIC as it was alleged he traded in shares of Genesis Minerals on the ASX from 14 September, 2021 to 20 September, 2021, while in possession of inside information about the business.
The maximum penalty for an insider trading offence was 15 years imprisonment.
ASIC obtained bail conditions preventing Waugh from leaving Australia.
He appeared before the Bunbury Magistrates’ Court on 16 December, 2022, charged with six counts of insider trading contrary to s1043A of the Corporations Act 2001 (Cth).
ASIC said it expected the matter to return to the court on 13 January, 2022.
AUTHOR
Laura Dew
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