Company Law Law Case Study Research Paper Coursework (Case Study Sample)

INSIDER TRADING- NEW SOUTH WALES IN R v CURTIS (No 3) [2016] NSWSC 866.
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Introduction:
Definition of Insider Trading:
Insider trading can be defined as the act of buying or selling or conspiring to buy or sell tradable financial products like stock, based on inside information. Section 1042 of the Corporations Act specifies financial products to include securities, derivatives, interests in managed investments, debentures, and stocks/bonds issued by the government or proposed to be issued, superannuation products or any other financial products that can be traded on a financial market. Inside information is explained to mean information that is generally not available, and which, if it were generally available, a reasonable person would expect it to affect the valuation of the aforementioned financial products.[Corporations Act 2001 (cpt).]
Facts of R v Curtis:
Mr. Curtis who worked in the financial sector got into an illegal agreement with his friend, Mr. Hartman, an equities dealer employed by Orion Asset Management Ltd. Orion’s main business was managing investments and to that end bought and sold large volumes of shares consistently. Its main clients included superannuation fund managers. Its senior investment managers were the ones responsible for choosing stocks which would go into its investment portfolios. They also did target weighting of each of the stocks and tried to manage the investment so much so that the actual weighting came as close as the target weighting.