ASIC Charge IT Insider Trade

On May 14, ASIC charged an IT consultant with insider trading.


  • Steven Oakes breached private network of Melbourne based financial publisher.

Alleged Violations

  • Charges comprise of 115 offences for unauthorized data access, insider trading,
  • As well as destroying, concealing, mutilating or altering books required by ASIC.
  • Information regarded shares due to be published in recommended stock reports.
  • Oakes bought shares in 2 ASX-listed companies prior to ‘buy’ recommendations.
  • Profited from selling shares a short time later, following the reports’ publication.


  • Oakes was not yet required to enter plea and matter adjourned to Jun, 25, 2018.