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Recent Developments in Securities Fraud and Insider Trading Litigation in the US and Australia   View Summary
22 December 2014

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Please note: Registration for this seminar will close on Thursday 18 December. Individual online registrations MUST be paid by Mastercard or VISA. To pay by cheque or arrange a group registration, please email for an invoice. We apologise for any inconvenience.


Antonia M. Apps is the keynote speaker at this joint ASIC/Sydney Law School seminar. Ms Apps, who played a major role as a prosecutor in a number of the recent high profile securities fraud and insider trading cases in the United States, will discuss recent developments in US securities law enforcement and US case law.

The commentators at this seminar will be Justice Michael Wigney of the Federal Court of Australia and Chris Savundra, ASIC. They will discuss recent Australian developments in securities fraud and insider trading litigation, including the issue of whether Australia has sufficiently stringent penalties in this area of law, compared to the US. The general issue of the relatively low penalties available to ASIC was recently noted by the Financial System inquiry in its Interim Report (July 2014).

The seminar will be chaired by Dr Greg O'Mahoney and Professor Jennifer Hill.

About the Speakers
Antonia M. Apps recently joined the prestigious firm, Milbank, Tweed, Hadley & McCloy, where she is a partner, specialising in securities litigation, white-collar crime and complex commercial litigation, in the New York office. Prior to joining Milbank, Ms Apps served in the US Attorney's Office for the Southern District of New York, Criminal Division, where she was a member of the Securities and Commodities Fraud Task Force. She was a prosecutor in some of the government's highest profile securities fraud and insider trading cases. Prominent examples include the prosecution of hedge fund SAC Capital Advisers, LP (which resulted in a guilty plea by SAC Capital, with criminal and civil penalties of $1.8 billion), and the successful prosecution and conviction after trial of SAC's portfolio manager, Michael Steinberg. Ms Apps is an alumna of Sydney Law School (1990), Oxford University (1993) and Harvard Law School (1994).

Justice Michael Wigney was appointed to the Federal Court of Australia in 2013. He worked in the Office of the Commonwealth Director of Public Prosecutions from 1989 to 1993, and then went to the Bar, where he specialised, inter alia, in complex financial and corporate offences. Justice Wigney is an alumnus of Sydney University.

Chris Savundra is the Senior Executive Leader - Markets Enforcement at ASIC. His responsibilities include investigation and enforcement in relation to market misconduct, corporate governance and financial crime. He has had the carriage of some of ASIC's major investigations and litigation, including in the insider trading area. He is a graduate of University of Western Australia and Oxford University, and previously worked in the litigation group at Allens Arthur Robinson and Herbert Smith Freehills.

MCLE/CPD points: 1