Homepage > News > ASIC introduces immunity for disclosers of market manipulations

ASIC introduces immunity for disclosers of market manipulations

The Australian Securities and Investments Commission (ASIC) has introduced a immunity policy for certain deficiencies, such as market manipulation, insider trading or fraudulent behaviors.

The new rules entitle an individual who’s been involved in activities such as market manipulation and insider trading in the course of conducting financial services activities to apply for immunity from financial penalties and criminal prosecution. This policy only applies to individuals, not corporations. This will help the Australian watchdog to identify and take action against specific markets and violations of the law in financial services and will strengthen its enforcement tools.

ASIC will be able to grant civil immunity and the Director of the Public Prosecutor’s Office (CDPP) will be able to grant criminal immunity. The ASIC will assist the CFPP in making decisions by contributing to immunity requests. The new policy grants immunity to the first person who satisfies the immunity criteria and reports the offense to the ASIC prior to starting an investigation.

Up to $ 1 million in fines for violations of regulations

ASIC continues to encourage cooperation from those who do  not meet the immunity criteria. The cooperation of natural persons in such cases will be taken into account when deciding whether to take possible administrative action against the person. ASIC recalls that those found guilty of markets manipulation, insider trading, and fraudulent behavior could face up to 15 years in prison and nearly $1 million in fines.

ASIC Commissioner Sean Hughes emphasized that ASIC is working on the development and introduction of new tools to combat and detect irregularities. The new rules are expected to enhance ASIC’s ability to identify and take action against complex financial market failures and violations of financial services. The policy will be updated every two years.

Author: Izabela Kamionka

Are you a trader?

Help others and rate your broker! Use the search engine or find your broker on the list.

exante baner

Last news:

german economy

German Business Climate Dips, Indicating Looming Extended Recession

A successive drop in German business morale in June indicates an impending lengthier recession for ...
ropa naftowa

Nigeria’s Oil Market Faces Crisis as Half of Output Goes Unpurchased

The Nigerian oil market is currently facing a significant surplus, with nearly half of next ...
Week for Wall Street

Stock Futures Fall, Investors Eye Powell’s Testimony

Stock futures are indicating a downtrend ahead of the Federal Reserve Chair, Jerome Powell's second ...

Euro Maintains Position Despite Russia’s Drastic Reduction in Use – ECB Report

Despite Russia's significant reduction in its use, the Euro stood its ground as the world's ...

Add a comment

Your email address will not be published. Required fields are marked *


Note: Opinions and posts on ForexRev.com represent personal opinions and views of their respective authors and should not be interpreted as recommendations to purchase or sell securities. ForexRev.org assumes no responsibility or liability for such content.
Go to top