The Australian Securities and Investment Commission has charged former Moody’s analyst Daniel Joffe and Peter Stromer with ten separate incidents of insider trading.
According to the Business Spectator, Joffe provided Stromer with confidential information about a number of companies, which he obtained while he worked as an analyst with the ratings agency. Stromer allegedly used the information ahead of public announcements to buy shares and other securities in companies such as AWB Ltd, Boral Ltd and Alinta Infrastructure Holdings.
Joffe and Stromer appeared at the Downing Centre Local Court in Sydney on Tuesday, but they have not yet entered a plea.
