09 April 2019

Mark Stephen Talbot- Enforceable undertaking

Based on the investigation, the FMA filed criminal charges against Mr Talbot in relation to the following offences under the Securities Markets Act 1988 (SMA):

  • One charge of trading by an information insider, contrary to sections 8C and 8F.
  • Eight separate charges of failing to disclose a relevant interest, contrary to sections 19T and 19ZD.

9 April 2019 High court sentencing remarks

The Crown Solicitor and Mr Talbot have since agreed to a resolution of the charges. As part of this resolution, Mr Talbot has entered a guilty plea to one representative charge for the breach of his disclosure obligations under sections 19T and 19ZD of the SMA. See media release.

A copy of the High court sentencing notes can be found here.

3 April 2019

Mr Talbot has agreed to enter into this enforceable undertaking with the FMA. He undertakes that he will not be a director or promoter of, or in any way (whether directly or indirectly) be concerned or take part in the management of, a listed issuer, as that term is defined in the Financial Markets Conduct Act 2013, for a period of 5 years from the date this enforceable undertaking is executed by both parties. The Penalty Sum of $150,000 will also be paid into a Crown Bank Account, after deducting the FMA's actual costs incurred in connection with its investigation into this matter.