CASE STUDY QUESTION

Michael works as a lab technician for ABC Pharma Pty Ltd(Pharma). In a confidential work meeting, his manager advised their newly developed virus vaccine was being approved for distribution by the Therapeutic Goods Administration (TGA), a development not known to the public as yet. Michael knows it will affect the share price, so that same day he asked his brother Bill to buy 100,000 shares at $2.00 in Pharma. Two days later, TGA gave its approval for the vaccine and the Pharma share price jumped to $6.00.

(a) Advise any offence that Michael has committed (2 marks).

(b) In relation to any alleged offence committed by Michael, describe what the prosecution must prove (4 marks).