Former CFO of Big Un Limited charged with insider trading (ASIC, 2023)

Dismissed

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In June 2023 ASIC announced that Big Un's former chief financial officer Andrew Corner was charged with insider trading over sales of 1.7 million Big Un shares. After a five-week trial ended on 30 March 2026 with a jury unable to reach a verdict, the prosecutor decided not to seek a retrial and ASIC announced on 1 June 2026 that it considers the matter finalised.

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 charge on June 13, 2023 as release 23-161MR.

ASIC alleges Corner knew of the funding arrangement between Big Un's subsidiary and financier First Class Capital when the shares were sold. He appeared through his lawyer at the Downing Centre Local Court.

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

Outcome: ASIC release 26-108MR, dated 1 June 2026, says the Commonwealth Director of Public Prosecutions will discontinue the proceedings against Corner. Charges had been laid in April 2023, and a jury was unable to reach a unanimous verdict after a five-week trial ending 30 March 2026. The prosecutor decided against a retrial having regard to the Commonwealth Prosecution Policy, and ASIC considers the matter finalised. There was no conviction, no finding and no penalty. The 1 June 2026 date is the date of ASIC's release, not of a court order.

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. 2023-06-13 ASIC media release
2. 2026-06-01 ASIC announces prosecutor discontinues charges after hung jury; no retrial

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 26-108MR (charges discontinued)

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

Related actions

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

Record added September 10, 2026. submit a correction.