BBI 0.00% $3.98 babcock & brown infrastructure group

insider trading complaint form, page-101

  1. 62 Posts.
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    See the following Corporations Act provisions:

    Part 7.10—Market misconduct and other prohibited conduct relating to financial products and financial services

    Division 2—The prohibited conduct (other than insider trading prohibitions)

    1041E False or misleading statements

    (1) A person must not (whether in this jurisdiction or elsewhere) make a statement, or disseminate information, if:

    (a) the statement or information is false in a material particular or is materially misleading; and

    (b) the statement or information is likely:

    (i) to induce persons in this jurisdiction to apply for financial products; or

    (ii) to induce persons in this jurisdiction to dispose of or acquire financial products; or

    (iii) to have the effect of increasing, reducing, maintaining or stabilising the price for trading in financial products on a financial market operated in this jurisdiction; and

    (c) when the person makes the statement, or disseminates the information:

    (i) the person does not care whether the statement or information is true or false; or

    (ii) the person knows, or ought reasonably to have known, that the statement or information is false in a material particular or is materially misleading.

    ...

    1041F Inducing persons to deal

    (1) A person must not, in this jurisdiction, induce another person to deal in financial products:

    (a) by making or publishing a statement, promise or forecast if the person knows, or is reckless as to whether, the statement is misleading, false or deceptive; or

    (b) by a dishonest concealment of material facts; or

    (c) by recording or storing information that the person knows to be false or misleading in a material particular or materially misleading if:

    (i) the information is recorded or stored in, or by means of, a mechanical, electronic or other device; and

    (ii) when the information was so recorded or stored, the person had reasonable grounds for expecting that it would be available to the other person, or a class of persons that includes the other person.
    ...

    (2) In this section:

    dishonest means:

    (a) dishonest according to the standards of ordinary people; and

    (b) known by the person to be dishonest according to the standards of ordinary people.

    ...

    1041G Dishonest conduct

    (1) A person must not, in the course of carrying on a financial services business in this jurisdiction, engage in dishonest conduct in relation to a financial product or financial service.

    ...
    (2) In this section:

    dishonest means:

    (a) dishonest according to the standards of ordinary people; and

    (b) known by the person to be dishonest according to the standards of ordinary people.

    1041H Misleading or deceptive conduct (civil liability only)

    (1) A person must not, in this jurisdiction, engage in conduct, in relation to a financial product or a financial service, that is misleading or deceptive or is likely to mislead or deceive.
    ...

    1041I Civil action for loss or damage for contravention of sections 1041E to 1041H

    (1) A person who suffers loss or damage by conduct of another person that was engaged in in contravention of section 1041E, 1041F, 1041G or 1041H may recover the amount of the loss or damage by action against that other person or against any person involved in the contravention, whether or not that other person or any person involved in the contravention has been convicted of an offence in respect of the contravention.

    (1A) Subsection (1) has effect subject to section 1044B.

    Note: Section 1044B may limit the amount that the person may recover for a contravention of section 1041H (Misleading or deceptive conduct) from the other person or from another person involved in the contravention.

    (1B) Despite subsection (1), if:

    (a) a person (the claimant) makes a claim under subsection (1) in relation to:

    (i) economic loss; or

    (ii) damage to property;

    caused by conduct of another person (the defendant) that was done in contravention of section 1041H; and

    (b) the claimant suffered the loss or damage:

    (i) as a result partly of the claimant’s failure to take reasonable care; and

    (ii) as a result partly of the conduct referred to in paragraph (a); and

    (c) the defendant:

    (i) did not intend to cause the loss or damage; and

    (ii) did not fraudulently cause the loss or damage;

    the damages that the claimant may recover in relation to the loss or damage are to be reduced to the extent to which the court thinks just and equitable having regard to the claimant’s share in the responsibility for the loss or damage.

    ...

    My posts contain opinion and speculation only. Under no circumstances should you rely upon anything said or not said.

 
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