Former CEO and director of Sirtex Medical Limited charged with insider trading (ASIC, 2018)

Judgment entered

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In September 2018 ASIC announced that former Sirtex Medical chief executive Gilman Wong was charged with insider trading over a sale of Sirtex shares in October 2016. He pleaded guilty in 2019 and in June 2020 was sentenced to 18 months' imprisonment, released on a $10,000 recognisance for three years, and disqualified from managing corporations for five years.

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 26, 2018 as release 18-288MR. The respondents named are the named respondents.

This library tags the matter as insider trading, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

Two later ASIC media releases show how the prosecution ended. On 2 July 2019 Wong pleaded guilty to one charge of insider trading and was committed to the Sydney District Court for sentencing; the proceedings were adjourned several times. ASIC's release 20-127MR says he was sentenced to one year and six months' imprisonment, released immediately on a $10,000 recognisance to be of good behaviour for three years, and, because of the conviction, disqualified from managing corporations for five years. The release is dated 4 June 2020, which is the date recorded here. The sale was of about 74,968 Sirtex shares for about $2.14 million, and ASIC says the price then fell about 49%. The prosecution was brought by the Commonwealth Director of Public Prosecutions, and no fine or pecuniary penalty is stated.

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. 2018-09-26 ASIC media release
2. 2019-07-02 Wong pleads guilty to one charge of insider trading and is committed for sentence (release 19-168MR)
3. 2020-06-04 Wong sentenced to 18 months, released on recognisance, and disqualified for five years

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 19-168MR (guilty plea)
• ASIC media release 20-127MR (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.