Australian Securities and Investments Commission v State One Stockbroking Limited [2018] FCA 1830

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v State One Stockbroking Limited [2018] FCA 1830 File number: WAD 540 of 2016

Judge: COLVIN J

Date of judgment: 20 November 2018

Date of publication of reasons: 23 November 2018

Catchwords: CORPORATIONS - declaratory relief and pecuniary penalties sought for admitted contraventions of s 798(1) the Corporations Act 2001 (Cth) by reason of admitted breach of ASIC Market Integrity Rules (ASX Market) 2010 (Cth) - consideration of language used in r 5.7.1(b) and r 5.7.2(b) - where penalty agreed - consideration of factors relevant to assessment of penalty - whether penalty should be imposed for an amount less than the amount specified in previous infringement notice - agreed penalty approved

Legislation: ASIC Market Integrity Rules (ASX Market) 2010 (Cth) Corporations Act 2001 (Cth) ss 798, 798G, 798H, 798K, 1317E Corporations Regulations 2001(Cth) Part 7, Division 2

Cases cited: Australian Building and Construction Commissioner v Construction, Forestry, Maritime, Mining and Energy Union (No 2) [2018] FCA 1211 Australian Securities and Investments Commission v Adler [2002] NSWSC 483 Australian Securities and Investments Commission v Huntley Management Limited [2017] FCA 770 Australian Securities and Investments Commission v Superannuation Warehouse Australia Pty Ltd [2015] FCA 1167 Commonwealth of Australia v Director, Fair Work Building Industry Inspectorate [2015] HCA 46; (2015) 258 CLR 482 State of New South Wales v Robinson [2016] NSWCA 334; (2016) 93 NSWLR 280 Stuart-Mahoney v Construction, Forestry, Mining and Energy Union [2008] FCA 1426 Trade Practices Commission v CSR Limited [1990] FCA 521 Wong v The Queen [2001] HCA 64; (2001) 207 CLR 584