Insider trading investigations 'increasing' in Australia

7 July 2009

Investigations into insider trading are increasing in Australia, a new report has suggested.

Data released by the Australian Securities Exchange's (ASX) Markets Supervision team has revealed that suspicious conduct is increasing during the economic crisis.

According to head of the team Eric Mayne, allegations of insider trading reported by the ASX to the Australian Securities and Investments Commission rose from 22 in the first half of 2008 to 31 so far this year.

He told the Sydney Morning Herald that two cases on insider trading that occurred earlier in the year were brought to court as a result of surveillance operations carried out by the ASX, adding 12 of the cases referred to the ASIC took place in the three months to June.

The Australian Transaction Reports and Analysis Centre - which investigates money laundering - recently censured Barclays and China's Mega International for making "significant" breaches of the country's suspicious transactions rulings.

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