New Zealand / Auckland Region

Suppression on NZ's first insider trading accused lifts

11:51 am on 19 March 2018

The man facing the country's first insider-trading trial can be named for the first time.

Photo: 123RF

Hamish Marc Sansom's name suppression lapsed today at his trial in Auckland.

He denies insider trading.

The Financial Markets Authority said Mr Sansom received a text message on 22 September 2015 alerting him that sales in a company were not going well with the additional message "time to sell up?".

According to the charge, Mr Sansom sold his $15,000 shares for $3.41 each two days later, and the company publicly announced decreased US sales four days after that.

The trial before Justice Hinton and a jury has been set down for a week.