Australia's ASIC Closes Insider Trading Probe Into WiseTech Founder Richard White

The decision leaves one unresolved thread: a separate investigation into a WiseTech employee, meaning regulatory scrutiny of the company has not fully concluded.

Australia's corporate regulator has closed its insider trading investigation into Richard White, the billionaire founder of logistics software company WiseTech Global, without bringing charges, according to a report published October 15, 2026 by Brisbane Times.

The Australian Securities and Investments Commission (ASIC) had been examining share sales worth approximately $200 million that White conducted during blackout periods, times when company insiders are typically restricted from trading to prevent the use of non-public information, the Brisbane Times reported.

Blackout periods are a standard feature of corporate governance frameworks in Australia and most major securities markets. They are typically imposed around earnings announcements, material corporate events, or other periods when executives may possess price-sensitive information not yet available to the public.

ASIC did not publicly state its reasons for closing the probe into White specifically. It is not known whether the regulator concluded that no breach occurred, that available evidence was insufficient to support a prosecution, or that the trades in question fell within a permissible exemption. A formal statement from ASIC setting out its findings, if any, would be required to clarify that question.

The closure of the investigation into White does not end ASIC's involvement with the matter entirely. According to the Brisbane Times report, one WiseTech employee remains under a separate investigation. The identity of that employee and the specific conduct under scrutiny were not disclosed in the report.

WiseTech Global is an Australian technology company whose CargoWise platform is used by logistics operators, freight forwarders, and customs brokers across more than 160 countries, according to the company's own published descriptions of its business. The company listed on the Australian Securities Exchange in 2016.

White stepped down as WiseTech's chief executive in October 2024 following separate reporting by Australian media about his personal conduct. He retained a significant shareholding in the company after his departure from the executive role, which meant his share sale activity continued to attract scrutiny from regulators and investors.

Insider trading enforcement has been a stated priority for ASIC in recent years. The regulator's annual reports have listed market integrity, including the surveillance of trading around corporate announcements, as a core enforcement focus. A dropped investigation does not constitute a finding of innocence under Australian law, nor does it preclude future action if new evidence were to emerge.

For institutional investors and fund managers with WiseTech exposure, the closure of the investigation into White removes one area of legal uncertainty from the company's profile, though the continuing probe into the unnamed employee means the matter is not fully resolved.

White has not been charged with any offense. The Brisbane Times report did not include a direct comment from White or his representatives in response to the ASIC decision.