The corporate regulator may soon be able to listen to intercepted telephone calls to prosecute insider trading, after Treasury found ASIC’s investigation into at least two suspected insider trading cases failed because it did not have the power to use intercepted telephone conversations.
In a consultation paper released on Thursday, Treasury said the Australian Securities and Investments Commission should be allowed to receive and use conversations that had already been intercepted by other agencies, such as the Australian Federal Police. Consultation closes on August 17.
‘Enforcement 40’ for 2020
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