Securities: Former KPMG manager guilty of insider trading
Andrew Dalzell, 49, of Randwick, New South Wales and former senior manager at accounting firm KPMG has pleaded guilty in the Supreme Court of New South Wales to one charge of insider trading.
While employed by KPMG, Dalzell bought 40,000 shares in printing company, Promentum Limited (Promentum).
At the time of the purchase, Dalzell possessed inside information which he had acquired in the course of his employment about a proposal by Promentum to acquire the McMillan Group.
KPMG was advising Promentum on the proposal.
ASIC commenced an investigation into Mr Dalzell’s conduct after concerns were raised by KPMG.
Dalzell has been remanded on bail pending sentencing on 21 March when he may be sentenced to jail and /or a fine and confiscation of assets resulting from the offence.
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