Ex-Macquarie Adviser Admits Market Manipulation

Law360, New York (March 15, 2010, 1:42 PM EDT) -- A former senior client adviser with Macquarie Equities Ltd. has pled guilty in an Australian court to charges of manipulating the share price of defunct electronic payment company Bill Express Ltd.

Newton Chan pled guilty to eight counts of market manipulation and one count of providing false or misleading information to the Australian Securities and Investments Commission in the Melbourne Magistrates Court on Friday, according to ASIC.

A plea hearing is scheduled for June 21 in the Supreme Court of Victoria, ASIC added.

The agency claimed...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.