Australia the land of insider trading?

Regulators are under pressure after reports at least 25% of executives have traded prior to announcements being made public, empowered with prior knowledge. Directors may be investigated over trading between the close of books and the earnings announcements and ahead of other major announcements.

Mere observation suggests that there must be some reason for the often seen  share price moves immediately prior to release of information and earnings reports. It may be beyond mere speculation.

Blackout enforcement and banning directors from trading prior to announcements and after books close is an option and penalties may be imposed. A reverse burden of proof may be applied.

Almost half of the directors of Australia's top 200 companies may have made trades which probably conflict with the market trading laws.

Fairfax Chairman Ron Walker is alleged to have bought random parcels of shares after he met Helen Coonan and discussed Australia's media ownership laws where the governmnent decision would result in a rise in the price of the shares. The shares did rise after the Senator announced the government policy (in Fairfax's favour) days later.

The horse racing industry is better regulated than the Australian stock market. 

ASX and ASIC's efforts have been described as disappointing. There have been strong calls for actual enforcement of existing laws.

As expected - 6 months later:

No action, no charges? Great example for the kids.