Australia: ASIC Charges Energy Executive With Insider Trading on Acquisition Targets

The Australian Securities and Investments Commission alleged this week that Stuart Fysh, a BG Group executive, purchased shares in Queensland companies that were acquisition targets of BG. The Australian reports that ASIC has charged Fysh with buying shares in Arrow and then QGC based on nonpublic information.

Fysh allegedly made more than $560,000 in profit from his trades. In court papers, Fysh denied the charges. ASIC has asked the court to freeze Fysh’s brokerage account holding $1.6 million, as well as 10 properties he owns in Melbourne, the Australian reports.

Read The Australian article