The Australian Securities and Investments Commission announced that Hui Xiao, a former managing director of Hanlong Mining, was sentenced today to a total of 8 years and 3 months for insider trading — the longest sentence ever imposed in Australia for that crime. The Xiao case is a nice success story for ASIC, which has not had been able to point to many successes in recent years.
‘Enforcement 40’ for 2020
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