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ASIC charge's two with insider trading

17 February 2010

A former Moody's Investor Services analyst and an associate have been charged with insider trading after the analyst allegedly passed on confidential information on ten separate occasions.

The former analyst, Daniel Joffe, and Nathan Stromer each face 10 criminal counts of insider trading brought by ASIC.

ASIC alleges Mr Joffe passed on information obtained through his work at Moody’s to Mr Stromer which resulted in him buying shares, warrants and CFDs between June 2006 and January 2007.

Each faces a maximum penalty of 50 years in jail and/or a fine of $1.1 million.

The charges against the two bring the number of people ASIC has charged with insider trading to five this financial year.

For further inofrmation:

Link to ASIC's Media Release here: 10-25AD Two NSW men charged with insider trading