West Australian man arrested, charged with insider trading offences (ASIC, 2022)

Judgment entered

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In December 2022 ASIC announced charges against Cameron Waugh, a corporate adviser, over insider trading in Genesis Minerals shares. He pleaded guilty, and on March 26, 2024 the Supreme Court of Western Australia sentenced him to two years' imprisonment with release after nine months on a good-behaviour recognisance. He realised a profit of A$57,256.44.

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 the arrest on December 19, 2022 as release 22-367MR.

ASIC alleges Waugh traded on the ASX while in possession of inside information about Genesis. He appeared in the Bunbury Magistrates' Court on December 16, 2022 and bail conditions bar him from leaving Australia.

The release records no plea, finding or money. The earlier record had no defendant name.

Outcome. ASIC media release 24-059MR says that at a hearing on March 26, 2024 the Supreme Court of Western Australia sentenced Waugh to two years' imprisonment from March 25, 2024, with release after nine months upon entering a recognisance to be of good behaviour for 15 months. The release says he pleaded guilty to buying 747,626 Genesis Minerals shares in September 2021 after learning of a funding proposal and board changes, and sold them in November 2021 for a profit of A$57,256.44. The conviction automatically disqualifies him from managing corporations for five years. The prosecution was brought by the Commonwealth Director of Public Prosecutions. The 24 months recorded is the sentence imposed, not time served.

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. 2022-12-19 ASIC media release
2. 2024-03-26 Waugh sentenced to 2 years' imprisonment (release after 9 months on recognisance)

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 24-059MR (sentencing)

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 2 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.