The Australian regulator ASIC alleged that at the time Kimelman was in possession of inside information concerning the intention by Quantum (now Nova Minerals Limited) to acquire Manitoba Minerals Pty Ltd, which had agreed to acquire an interest in a lithium resource in Canada.
At the time of the alleged offences, the charges of insider trading could bring a maximum penalty of 10 years in prison. In March 2019, the maximum penalty was raised to 15 years.
Read More:
- CBA and Colonial First State sued for breached of the conflicted remuneration ban
- ASIC places new license conditions on Societe Generale
- ASIC suspends the AFS licence of BBY Ltd
The post Former Melbourne director of Quantum charged with insider trading appeared first on LeapRate.
,