Good News & Bad News, page-11203

Rene Rivkin (link)was convicted of insider traing back in 2005

In April 2003, following a long-running investigation by the Australian Securities and Investments Commission (ASIC), Rivkin was found guilty of insider trading, having purchased Qantas shares after being made aware of information in relation to an impending merger of Qantas and Impulse Airlines. He was charged with using confidential and market-sensitive information, having purchased – on behalf of Rivkin Investments – 50,000 Qantas shares on 24 April 2001, just hours after speaking to the executive chairman of Impulse, Gerry McGowan. The trade resulted in a profit of $2,664.94.^[8]



I seem to recall at the time Rivkin, who ran a newsletter- The Rivkin Report- where the recommendations would advise a sell when in fact they were doing the opposite.


Clearly GS is giving advice to the market and then doing the opposite and cheating the people who trust their advice.
We are censored on Hot Copper if we give unlicenced advice.
Rivkin made $2,664.94 on the insider trade. GS will make many million on their dishonest advice.

A long running investigation on Rivkin by ASIC resulted in a conviction. I wonder what action, if any, will ASIC take on this as clearly there is a smoking gun and lots of dead bodies. Does the ASX have any power against a foreign investment entity?