Wednesday, November 23, 2011

Gunns insider case a test for corporate cop

By Business editor Peter Ryan - analysis

Former Gunns chairman John Gay is due to face court in Launceston next month on charges of insider trading.

The allegations - if proven - would be an important victory for the corporate regulator as watchdogs around the world crack down on white-collar crime.

The Australian Securities and Investments Commission (ASIC) is alleging that Mr Gay, while chairman of Gunns, used insider information to profit from a personal share transaction - information that he knew was not available to the general public.

But insider trading cases are notoriously difficult to proven and Mr Gay is certain to mount a vigorous defence.

Here's my analysis broadcast on "The World Today" and read it on ABC News Online.

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