ASIC’s increased powers yield results
Analysis | The corporate regulator has doubled the number of insider trading investigations this year and merger deals are coming under more scrutiny.
The Australian Securities and Investments Commission has made no secret of the fact that it has been monitoring financial “gatekeepers" – including investment bankers, lawyers and other advisers – for insider trading during mergers and acquisitions.
But its revelation on Tuesday morning that it is investigating suspected insider trading by executives of Hanlong Mining should again remind company directors they are also in the regulator’s sights.
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