Securities: Melbourne broker charged with insider trading
The Australian Securities and Investment Commission (ASIC) has charged Mark Richard McKenzie with insider trading.
ASIC alleges that between 26 July and 8 August 2006, while employed as a broker with Citigroup Wealth Advisers Pty Ltd (Citigroup) in Melbourne, McKenzie, 40, of Anglesea Victoria, possessed inside information regarding a possible takeover of Vision Systems Limited (VSL), and purchased VSL shares on his own account and advised four of his clients to purchase VSL shares.
ASIC has already banned McKenzie from providing financial services for a period of three years in connection with his conduct
In related investigations ASIC banned two former Citigroup brokers, Colin Hebbard for five years (refer AD09-16) and Robert Catena for five years (refer AD10-119). Catena’s banning is currently under appeal before the full bench of the Federal Court.
Mr McKenzie, who was not required to enter a plea when he appeared before the Victoria Magistrates' Court in Melbourne this mornning, will return to court for a committal mention on 9 November 2010.
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