Hi Kruiser,
Problem is there is information out there which some brokers have access too with details / colour around their plans that the rest of the market does not have. Parts of this formerly confidential information have now turned up being posted to Hot Copper.
Therefore under LRR3.1 the details must be disclosed - either under 3.1A as the confidentity requirement to witholding disclosure no longer applies; or under 3.1B as corrective disclosure is required due to the possibility of there being a false market in AQC shares.
On the insider trading issue: Prosecutions do not require any connection between possession of inside information and the decision to trade. Simply put, if you have inside information and trade you are done- irrespective of why you traded. [Unless you can show the trade was forced - eg liquidation due to margin call]
In the context of AQC, at least one client of a broker has disclosed on Hot Copper that he/she has information that was ultimately provided by Paul, that the rest of the market does not have. This is inside information. If these clients trade before AQC puts out a disclosure then they and arguably Paul too [for tipping - depending on lots of factors] are done.
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