Perth man charged with insider trading appears in court (ASIC, 2016)

Judgment entered

✓ Checked against the primary document on October 4, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

Report an error in this record (asic-16-024mr-insider-trading-2016) by email

ASIC's 2016 insider trading prosecution of Steven Robert Noske ended in conviction after a jury trial in the Supreme Court of Western Australia. On 28 April 2017 he was sentenced to 18 months' imprisonment, with release after nine months, and fined A$20,000. ASIC says the conviction automatically disqualifies him from managing corporations for five years.

The record

What was ordered

Civil penalty

—

Disgorgement

—

Prejudgment interest

—

Total relief

—

Alleged gain

—

Penalty as published

A$20k

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. This regulator states penalties in AUD. The figure is recorded as published and is not converted, so it does not appear in the USD totals or medians used elsewhere on this site.

What is alleged to have happened

The Australian Securities and Investments Commission announced this matter on February 4, 2016 as release 16-024MR. The respondent named is Steven Robert Noske (1 individual, 0 entities). ASIC alleges that Mr Noske bought 750,000 WestSide Corporation Limited shares through an associated trading account in February 2012 while in possession of inside information about a proposed takeover, for a notional profit of about A$182,430. He first appeared in court on 10 July 2015 on the one count, under sections 1043A and 1311(1) of the Corporations Act 2001, and the Commonwealth Director of Public Prosecutions is prosecuting. The maximum penalty is ten years' imprisonment and/or a fine.

After a two-week trial a jury found Noske guilty of one count of insider trading over his purchase of 750,000 WestSide Corporation shares in February 2012, ahead of LNG Limited's takeover proposal, and ASIC announced the conviction. At sentencing on 28 April 2017, Justice Hall imposed 18 months' imprisonment, to be served as nine months followed by release on a $10,000 recognisance on good behaviour, and a $20,000 fine. ASIC says his actual profit was $51,246.34, and that the conviction automatically disqualifies him from managing corporations for five years. The case was prosecuted by the Commonwealth Director of Public Prosecutions, so this is a criminal conviction rather than a civil penalty. The earlier notional profit of about A$182,430 cited at charging stage is not the profit ASIC reports at sentencing.

For the regulator's own account of the facts, read the primary documents linked above. This page summarises the structured record and does not reproduce them.

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. 2016-02-04 ASIC media release
2. 2017-04-28 Noske sentenced to 18 months' imprisonment and fined $20,000 (Supreme Court of Western Australia)

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
• ASIC media release 17-099MR (conviction)
• ASIC media release 17-125MR (sentence)

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.