Regina v Fysh [2012] NSWSC 1266

Regina v Fysh [2012] NSWSC 1266

Evidence of Mr Dreyfus that is not based on specialised knowledge is not admissible under s 79; opinion on the manner of dissemination in the market may be admissible if it stems from established expertise; evidence on the content of the documents could, with proper notice and in summary form, be admissible under s 50; the opinions expressed in the reports as to materiality are not presently admissible as they do not sufficiently connect expertise to conclusions.

Parties
Crown: Regina; Accused: Stuart Alfred Fysh
Jurisdiction
Australia
Judgment Date
22 October 2012
Procedural Posture
Criminal / Interlocutory Ruling on Admissibility of Evidence During Trial
Outcome
Ruling on admissibility of proposed expert opinion evidence.
Legal Topics
Insider Trading, Expert Evidence, Admissibility of Evidence
Criminal Law Evidence Insider Trading Expert Evidence Admissibility of Evidence

Case Brief

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Parties

Regina

Crown

Stuart Alfred Fysh

Accused

Procedural Posture

Criminal / Interlocutory Ruling on Admissibility of Evidence During Trial

Legal Issues

  1. 1 Whether expert opinion evidence is admissible to prove the general availability and materiality of alleged inside information under the Corporations Act 2001
  2. 2 Whether general availability of information is a matter of expertise
  3. 3 Whether the expert report articulates the connection between expertise and opinion

Ratio Decidendi

Evidence of Mr Dreyfus that is not based on specialised knowledge is not admissible under s 79; opinion on the manner of dissemination in the market may be admissible if it stems from established expertise; evidence on the content of the documents could, with proper notice and in summary form, be admissible under s 50; the opinions expressed in the reports as to materiality are not presently admissible as they do not sufficiently connect expertise to conclusions.

Court Disposition

Ruling on admissibility of proposed expert opinion evidence.

Orders

  • Evidence of Mr Dreyfus as to general availability not admissible under s 79 unless based on specialised knowledge as specified.
  • Evidence of manner of making information known to the market may be admissible given expertise and notice to accused, subject to directions.