Ross Parsons Corporate Law Seminar Series: Dr Greg O'Mahoney

19 November 2012

The taming of the shrewd - emerging issues in regulating market manipulation

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This presentation will focus on two emerging issues in the regulation of market manipulation: first, the impact of technology and shifting market structures on market integrity; and second, the meaning of "artificial price" for the purposes of Australia's market manipulation regime.

Technology poses a number of challenges to regulators in respect of market manipulation. It enables less sophisticated market participants to engage in the kind of unlawful practices that were once the preserve of more resourced and powerful market players. It also arms more sophisticated investors with opportunities to undermine market integrity on an unprecedented scale. This part of the presentation will consider the difficulties, and opportunities, technological developments have presented to regulators seeking to protect markets against manipulative conduct.

The meaning of "artificial price" is essential to the operation, and effectiveness of Australia's market manipulation regime. This part of the presentation will consider the position following the recent decision of the Court of Appeal of the Supreme Court of Victoria in Director of Public Prosecutions (Cth) v J M [2012] VCSA 21. The approach in J M will be contrasted with the approach the Federal Court has taken in two earlier cases.


Dr Greg O'Mahoney is a barrister at Seven Wentworth Chambers. He is Adjunct Lecturer at Sydney University where he teaches Corporations Law and a postgraduate course on regulating manipulation and abuse in global securities markets. Prior to commencing at the Bar, he studied as a Rhodes Scholar at the University of Oxford, where he completed the BCL and was awarded a DPhil. He is co-authoring a book on market abuse and corporate disclosure in Australia to be published by Hart Publishing in the coming year. In 2005 - 2006 he was Associate to Murray Gleeson AC, Chief Justice of Australia

Commentator: Belinda Gibson, Deputy Chair, ASIC.

Lawyers/barristers: attendance at this lecture is equal to 1.25 MCLE/CPD units.

Time: 6-7.15pm (5.30pm registration and refreshments)

Location: Minter Ellison Room, Level 13 Old Law School, St James Campus, Phillip St, Sydney

Cost: Full $77; Sydney Law School Alumni $66; Sydney Law School Students $44; Group (3+) $55 inc gst

Contact: PLaCE Coordinator

Phone: 02 9351 0323

Email: 08563f1e1223282b5f452223282d095c084f15050445223a