Cronulla man Michael Hull has pleaded guilty to 3 charges of insider trading at the New South Wales Supreme Court. The charges related to Mr Hull's acquisition of shares of Mac Services Limited, Giralia Resources NL and Jabiru Metals Limited while in possession of inside information between 8 September 2010 and 9 February 2011.

The inside information was allegedly conveyed to Mr Hull by a close friend who was employed in the investment banking department of a global financial services company which worked on major corporate transactions involving those companies.

ASIC's investigation into the conduct of the person who allegedly conveyed the inside information to Mr Hull is ongoing.

The matter has been stood over to 8 March 2016 for sentence.

The insider trading was identified by ASIC’s market surveillance team and referred to ASIC’s markets enforcement team for investigation and enforcement action.

The Commonwealth Director of Public Prosecutions is prosecuting the matter.

Background

On 6 May 2014, Mr Hull appeared at the Downing Centre Local Court in Sydney after an ASIC investigation led to 67 separate charges of insider trading (refer: 14-098MR).

Editor's note 1:

The sentencing hearing has been re-scheduled until 17 March 2016.

Editor's note 2:

On 17 March 2016, following a sentencing hearing, the matter was stood over to 20 May 2016, for sentence.

Editor's note 3:

On 20 May 2016, Mr Hull's sentencing was adjourned to 3 June 2016, at 2:00 pm.