Insider Trading: Westpac case set for 2023 trial date

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One of Australia’s largest and most contentious insider trading cases faces a lengthy delay after the corporate watchdog said it won’t be ready in time for a February 2022 trial date.
On May 5, the Australian Securities and Investments Commission filed a civil claim in the Federal Court alleging that Westpac’s interest rate traders engaged in insider trading in the hours leading up to the announcement of the October 2016 $16 billion Ausgrid privatisation.
Federal Court Judge Justice Michael Lee had pushed for a February 2022 trial date in light of a busy schedule of trials already set for the remainder of the year.

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