Sydney Resident Fined $10,000 for Insider Trading after ASIC Investigation

[kreslik.news]

A Sydney-based resident, Fei Yu, has pleaded guilty to a charge of insider trading and has formally admitted a second insider trading offence, as per a statement issued today by the Australian Securities and Investments Commission (ASIC).

Yu has been released on bail subject to good behaviour for 12 months and is required to pay a penalty totalling $10,000. In addition, Yu will pay the net profits from his offence, totalling $17,527, to a charitable foundation. He will also be automatically disqualified from managing a corporation for 5 years.

History

Yu admitted procuring the acquisition of shares and contracts for difference (CFDs) in ... (read more)