Therefore, there are a few things that the businesses should keep in mind when inside trading is concerned. When this kind of information is placed representing the corporation, none of the defenses apply and the penalties get harsher. The fines can go up to $4,950,000 or three times the profits which have been made through illegal trading. A general find of ten percent of the corporation’s annual turnover can be levied.
Also, ASIC keeps the interest of the general public first, and therefore has categorised inside trading an offence which involves penalty and charges.
The decision of the court was made after referring to a number of cases. When McCallum J was determining the sentence for Curtis, it was observed that a number of factors must have gone incorrect like lack of prior offences, youth, good character and the absence of an early guilty plea. McCallum J stated that it was difficult to establish that Curtis was a true contrite and a forfeiture of $1.43 million was established, and still no admission of guilt, therefore “cynical” was the word used in this case ( of R v Curtis (No 3)  NSWSC 866) (Bagaric, 2016).
This case was not accepted as a ‘white collar crime’. The reason being that the traders were not harmed in the process and there was no financial loss at such. But nevertheless ASIC looked into this matter severely addressing the fact that the community is harmed in such cases at large.
Whether or not Curtis should be jailed, it was stated that (at ), “In my view, however, punishment by a sentence of imprisonment has real bite as a deterrent to others in the case of white-collar crime. White-collar crime is a field in which, perhaps more than any other, offending is often a choice freely made by well-educated people from privileged backgrounds, prompted by greed rather than the more pernicious influences of poverty, mental illness or addiction that grip other communities. The threat of being sent to goal provided it is perceived as a real threat and not one judges will hesitate to enforce, is likely to operate as a powerful deterrent to men and women of business” (Philips, 2016).
Furthermore ASIC pursued the case for conspiracy topping inside trading. It can be said that ASIC wanted to send out a message to the different units in the market about the charges which would levied if anyone would be found guilty of inside trading as the chairman of ASIC, Greg Medcraft, stated “Insider trading is a crime and it is increasingly likely to be detected. It will be investigated and where possible, prosecuted.”