Arab Today, arab today germanys hochtief insider trading in australia inadvertent
Last Updated : GMT 18:44:55
Arab Today, arab today
Arab Today, arab today

Germany's Hochtief insider trading in Australia 'inadvertent'

Arab Today, arab today

Arab Today, arab today Germany's Hochtief insider trading in Australia 'inadvertent'

Hochtief Aktiengesellschaft is a German construction company
Sydney - AFP

German construction company Hochtief admitted to breaking insider trading rules in Australia in 2014, the nation's financial regulator said on Tuesday as the firm said any breach was "inadvertent".

The Australian Securities and Investment Commission (ASIC) said it had started legal action against holding company Hochtief Aktiengesellschaft.

It said it was "seeking a declaration of contravention and a financial penalty order against the company for insider trading".

The alleged breach relates to Hochtief's purchase of shares in Australian building firm Leighton in early 2014 and its extension of the last day on which shares could be purchased from January to February, ASIC said.

It alleged that Hochtief, the major shareholder of Leighton, was aware at the time that the Australian company's financial results for 2013 -- to be released that February -- were "likely to be at the high end of previous earnings guidance".

"Hochtief AG has admitted the alleged contravention," the ASIC said in a statement.

Hochtief said it had been cooperating with the ASIC's investigation since August 2014 and that it gained no trading profit from the alleged breach.

"Hochtief will submit to the court that its contravention was inadvertent," it said in a statement.

"By its contravening conduct, Hochtief did not seek or obtain trading profit."

Leighton, which is now called CIMIC Group Limited, reported its results on February 20, 2014, a move which saw its stocks close 4.88 percent higher, the ASIC said.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today germanys hochtief insider trading in australia inadvertent Arab Today, arab today germanys hochtief insider trading in australia inadvertent

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday