Regina v Rivkin [2003] NSWSC 447

Regina v Rivkin [2003] NSWSC 447

Given the offender's deliberate contravention of insider trading laws with full knowledge, severe lack of contrition, high position in the market, and in view of the requirements of general and personal deterrence—all other sentences being inappropriate—a sentence of nine months' imprisonment by way of Periodic Detention and a fine of $30,000 was warranted, especially considering the offence was at the lower end of seriousness but still involved a clear disregard for market integrity.

Jurisdiction
Australia
Judgment Date
29 May 2003
Procedural Posture
Criminal / Sentencing After Jury Conviction
Outcome
Offender convicted and sentenced to nine months' imprisonment by periodic detention and a fine of $30,000.
Legal Topics
['insider Trading' 'sentencing' 'white Collar Crime' 'market Integrity']
['criminal Law' 'corporations Law' 'securities Regulation'] ['insider Trading' 'sentencing' 'white Collar Crime' 'market Integrity']

Case Brief

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Procedural Posture

Criminal / Sentencing After Jury Conviction

Legal Issues

  1. 1 ['Appropriate sentence for an insider trading conviction under s 1002G of the Corporations Act 2001' "Whether a custodial sentence (and in what form) should be imposed given the offence and offender's circumstances" 'Whether a fine should be imposed and in what amount']

Ratio Decidendi

Given the offender's deliberate contravention of insider trading laws with full knowledge, severe lack of contrition, high position in the market, and in view of the requirements of general and personal deterrence—all other sentences being inappropriate—a sentence of nine months' imprisonment by way of Periodic Detention and a fine of $30,000 was warranted, especially considering the offence was at the lower end of seriousness but still involved a clear disregard for market integrity.

Court Disposition

Offender convicted and sentenced to nine months' imprisonment by periodic detention and a fine of $30,000.

Orders

  • ['Offender to be imprisoned for 9 months, to be served by way of Periodic Detention.' 'Fine of $30,000 imposed.' 'Offender directed to report to the Silverwater Detention Centre by 4pm on Friday 6 June 2003 to commence serving sentence.' 'No recognizance release order made.']