Former Hanlong managing director pleads guilty to insider trading (ASIC, 2015)

Judgment entered

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In 2015, Hui Xiao, the former managing director of Hanlong Mining Investment, pleaded guilty in an Australian court to two rolled-up charges of insider trading involving 65 trades in Sundance and Bannerman securities and derivatives in July 2011. No monetary figure is stated and sentencing was still to come.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Australian Securities and Investments Commission announced this matter on September 2, 2015 as release 15-239MR. The respondent named is Hui Xiao (1 individual, 0 entities). ASIC reports that Mr Xiao, in custody since his January 2014 arrest in Hong Kong and his October 2014 extradition, pleaded guilty in Central Local Court by video link to two rolled-up charges of insider trading covering 65 trades in Sundance Resources and Bannerman Resources instruments, made while he ran Hanlong Mining. He also admitted a third rolled-up offence covering 37 further trades from the same July 2011 conduct, to be taken into account at sentencing. The original charging, reported in release 14-265MR, was more than 100 counts, one for each trade.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2015-09-02 ASIC media release

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• ASIC media release

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Same matter

The library links these 3 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.