Wednesday, February 19, 2014

ASIC grilled by Senate inquiry over David Jones controversial share trading by directors

A Senate inquiry today grilled executives from Australia's corporate watchdog over their investigation into share trading by two directors of the department store David Jones.

The David Jones chairman Peter Mason and two directors, Steve Vamos and Leigh Clapham, have resigned over the affair.

Today the Australian Securities and Investments Commission executives were asked why they did not find that the share deals amounted to insider trading when they took place before the release of positive sales data.

Here's my report broadcast on The World Today.

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