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Broker charged with insider trading

by Hilary Kincaid 14. September 2010 16:42

An ASIC investigation has led to a Melbourne broker, Mr Mark McKenzie, being charged with insider trading.

It is alleged that between 26 July and 8 August 2006, while employed as a broker with Citigroup Wealth Advisers Pty Ltd in Melbourne, McKenzie had inside information regarding a possible takeover of Vision Systems Limited and purchased shares on his own account in addition to advising four of his clients to purchase VSL shares.

Mr McKenzie is already banned from providing financial services for three years. He was not required to enter a plea and will return to court for a committal mention on 9 November 2010.

The investigation arose from a referral from the ASX. The matter is being prosecuted by the CDPP.

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