Regulatory Alerts2026-05-22
Full Federal Court re-sentences Rodney Forrest to five years and three months for insider trading
The Full Federal Court reduced the sentence of former investment manager Rodney Forrest to five years and three months imprisonment for insider trading involving over $3 million in Platinum Asset Management shares. The Court allowed Forrest's appeal on the basis that the initial judge erred in assessing the objective seriousness of his offending regarding his false denials, although it maintained that general deterrence and the serious nature of the premeditated breach of trust justified a substantial custodial term. This prosecution was conducted by the CDPP following an ASIC investigation, aligning with the regulator's 2026 enforcement priority to strengthen the investigation and prosecution of insider trading conduct.
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