Trader Daniel Schlaepfer and his firm Select Vantage were alerted to possible market manipulation and flaws in the company’s surveillance system, the court has heard mid-trial in the case alleging ASIC made defamatory remarks to the trading firm’s major business partners.
Trader Daniel Schlaepfer and his firm Select Vantage are seeking over $10 million in damages from the Australian Securities and Investments Commission in a defamation action against the corporate regulator, a court heard Thursday on the fourth day of trial in the case.
The Australian Securities and Investments Commission made global trading firm Select Vantage “vanish overnight” from the Australian market using slanderous statements based on a lack of evidence, the NSW Supreme Court has heard.