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ASIC v. Dylan Rands (price manipulation, 2021)

Judgment entered

Checked against the primary document on October 2, 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.

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In September 2021 ASIC banned former Regal Funds Management dealer and portfolio manager Dylan Rands from providing financial services for five years after finding he made 112 uncommercial trades creating an artificial price in Clearview Wealth shares between December 2018 and June 2019 and created a false appearance of active trading on two dates. He may seek Administrative Appeals Tribunal review.

The record

Structured fields for this action, as recorded in our case library.
Agency ASIC
Release number 21-253MR
Date filed 2021-09-22
Status judgment
Asset class equities
Criminal parallel No
Defendants Dylan Rands (individual)
Techniques Price manipulation

What was ordered

Civil penalty
—
Disgorgement
—
Prejudgment interest
—
Total relief
—
Alleged gain
—

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 22, 2021 as release 21-253MR. The respondents named are Dylan Rands (1 individual, 0 entities).

This library tags the matter as price manipulation, 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.

The conduct is recorded against equities.

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.

Timeline

  1. 2021-09-22 ASIC media release

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

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

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

Action Agency Filed Technique Penalty Status
CFTC v. George Santos (price manipulation, 2026) CFTC 2026-07-31 Price Manipulation $17.5k settled
Victorian man sentenced in market manipulation case (ASIC, 2025) ASIC 2025-12-12 Price Manipulation , Wash Trading — judgment
ASIC v. Delta Power & Energy (Vales Point) Pty Ltd (price manipulation, 2025) ASIC 2025-06-30 Price Manipulation , Marking The Close — filed
Victorian man charged over alleged market manipulation (ASIC, 2025) ASIC 2025-03-14 Price Manipulation , Wash Trading — judgment
SEC v. Marco Babini, et al. (price manipulation, 2024) SEC 2024-09-27 Price Manipulation — judgment
CFTC v. TOTSA TotalEnergies Trading SA (price manipulation, 2024) CFTC 2024-08-27 Price Manipulation $48m settled

Record added September 10, 2026. submit a correction.