ASIC Initiates Proceedings Against Whitebox for Spike in ASX Index

[kreslik.news]

The financial markets watchdog in Australia, ASIC, announced today that it has commenced proceedings in the Federal Court of Australia against Whitebox Trading Pty Limited and its sole director Johannes Boshoff.

The move follows an investigation into the spike in prices of securities comprised in the S&P/ASX 200 Index (Index Securities) that occurred on 18 October 2012.

Along with other market misconduct, the Australian watchdog alleges that it was likely that artificial prices for trading Index Securities were created by order activities from Mr Boshoff and Whitebox on 18 October 2012, as well as on four earlier occasions in the same ... (read more)