Charges laid in Platinum Asset Management insider trading case (ASIC, 2025)

Judgment entered

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In August 2025 ASIC announced charges against Rodney Forrest, a former Sydney investment manager, over trading and procuring others to trade Platinum Asset Management shares on inside information about a takeover offer, and over running a financial services business without a licence between 4 January and 8 October 2024. ASIC alleges he bought about $2.6 million of Platinum shares. He pleaded guilty to two insider trading counts in the Local Court, later entered pleas in the Federal Court, and was listed for sentencing on 23 January 2026.

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 charges in release 25-163MR; the Commonwealth Director of Public Prosecutions prosecutes. ASIC says its market surveillance technology detected the trading, and calls it the first outcome for its criminal investigation taskforce.

He is charged with two offences under section 1043A(1) and one under section 911A of the Corporations Act. Later notes record pleas on 5 September 2025 and adjournments for sentencing; no sentence is recorded.

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. 2025-08-12 ASIC media release

Primary documents

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• 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

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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.