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Tuesday 11 June 2019

19-133MR Federal Court finds Whitebox Trading Pty Ltd and its sole director did not engage in market manipulation

The Federal Court of Australia found, on 7 June 2019, that Whitebox Trading Pty Ltd and its sole director and principal, Johannes Boshoff, did not engage in market manipulation in contravention of section 1041A, and contraventions of 1041B, of the Corporations Act  in connection with orders they placed on ASX Limited for securities comprised in the S&P ASX 200 Index (Index Securities), on 18 October 2012, as well as on four earlier dates in 2012. Accordingly, the Court also found that Mr Boshoff did not fail in the discharge of his duties as a director of Whitebox.

ASIC is considering the judgment.


On 23 December 2013, ASIC accepted an enforceable undertaking (EU) from NAB in relation to its responsibility for the alleged market misconduct of Whitebox's trading personnel. Read about the EU and further details about the 18 October 2012 orders in 13-365MR.

Editor's note:

ASIC filed an appeal on 27 June 2019. This was discontinued on 9 August 2019.

Last updated: 11/06/2019 12:00