ChannelLife New Zealand logo
Industry insider news for New Zealand's technology resellers
Story image

Former VMob CFO Mark Talbot pleads guilty to insider trading

By Sara Barker
Wed 10 Apr 2019
FYI, this story is more than a year old

Former VMob chief financial officer Mark Stephen Talbot will not be appearing as a director of manager of a listed business for at least five years, after he pleaded guilty of insider trading. Talbot will also pay $150,000 as a penalty for his misconduct.

VMob, which now operates as mobile engagement software firm Plexure after a name change in 2016. Talbot was virtual CFO of the company from 2011 to 2014.

In 2014 the Financial Markets Authority started in investigation into the company for insider trading. The insider trading related to VMob share purchases that occurred prior to an announcement that VMob scored a contract with McDonald’s Japan -  that contact would earn the company significant revenue.

Talbot was responsible for making sure that VMob employees knew about the company’s trading policy, however he used insider information and bought shares regardless.

“While the charges of insider trading have been withdrawn, Mr Talbot has accepted it is no defence to state that the shares he purchased through his company, Blumau, on 24 July 2014 were held for the benefit of his father,” The FMA states.

VMob/Plexure itself was not part of the investigation and cooperated fully with the FMA as it investigated Talbot.

Talbot pleaded guilty to one representative charge of failing to disclose a relevant interest, admitted a breach of the Securities Markets Act 1988 (SMA) and given an enforceable undertaking which has been accepted by the FMA in accordance with sections 46 and 46A of the Financial Markets Authority Act 2011 (FMA Act).

Talbot also admits that he had information that VMob was likely to be awarded the contract with McDonald’s Japan during all relevant times when he traded in shares in VMob on 24 July 2014;

• the information was material information that was not generally available to the market, and which he received in his capacity as a senior manager of VMob;

• he knew that the information was material information that was not generally available to the market until the announcement to the market was made on 11 August 2014;

• having traded in shares in VMob on 24 July 2014 he has contravened section 8C of the SMA.

FMA head of enforcement Karen Chang says the FMA’s core focus is on maintaining market integrity. “Unethical trading and a disregard for disclosure obligations erode investor confidence in our markets at a fundamental level.”

Chang also says that the FMA is satisfied with the response to Talbot’s misconduct.

“We always consider the public interest in determining the best outcome for enforcement actions. Where it’s possible to achieve our objectives without the need to spend time and public resource in lengthy court proceedings, then we will do so on the merits of each case, particularly where the final outcome would be less certain and subject to the risks of litigation process.”

“In this case, Mr Talbot’s acknowledgement of responsibility through the guilty plea and the enforceable undertaking were important factors in this resolution.”

Related stories
Top stories
Story image
Artificial Intelligence
Frost & Sullivan recognises Genesys as leader in new reports
Frost & Sullivan has recognised Genesys as a leader in the cloud contact centre market for its robust cloud and digital capabilities.
Story image
Manhattan Associates
Shortening the click-to-customer cycle through smart technologies
Speed of delivery without accuracy is a dealbreaker for consumers. How can retailers operating in an omnichannel environment overcome the challenge of click-to-customer cycle times.
Story image
Vectra AI
Vectra’s inaugural Partner of the Year Awards revealed
APAC companies Baidam, Firmus, ShellSoft and Macnica have been recognised in Vectra AI's inaugural Partner of the Year Awards.
Story image
Cybersecurity
Cybersecurity prompts upgrade for 1.3 billion electricity meters
ABI Research finds Advanced Metering Infrastructure (AMI) and cybersecurity concerns are prompting the upgrade of 1.3 billion electricity meters by 2027.
Story image
Wireless
Cradlepoint expands its Cellular Intelligence capabilities
Cradlepoint has announced additional Cellular Intelligence capabilities with its NetCloud service.
Story image
Gaming
Hands-on review: WD_Black SN770 NVMe SSD Game Drive
Western Digital expands its WD_Black range of NVMe solid-state drives with the WD_Black SN770 Game Drive.
Story image
Microsoft
PwC NZ unveils new Cloud Security Operations Center
PwC New Zealand has unveiled its new Cloud Security Operations Center for the entire Microsoft technology stack.
Story image
Apple
Apple previews new features for users with disabilities
Apple says new software features that offer users with disabilities new tools for navigation, health and communication, are set to come out later this year.
Story image
WolfVision
WolfVision announces new range of visualisers
WolfVision has announced a new range of visualisers to help meet multiple industry demands for remote learning and educational solutions.
Story image
Cybersecurity
Hard numbers: Why ambiguity in cybersecurity no longer adds up
As cybersecurity costs and risks continue to escalate, CEOs continue to struggle with what their investment in cyber protection buys. Getting rid of ambiguity becomes necessary.
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
Mobility
Tyson Beckford partners with Element Case on new AppleWatch band
Celebrity Tyson Beckford has collaborated with STM Brands' Element Case brand to create a rugged new accessory.
Story image
Digital Transformation
How to modernise legacy apps without compromising security
At a time when digital transformation has become central to business, even the most important applications come with a ‘use-by’ date.
Story image
Ransomware
A third of companies paying ransom don’t recover data - report
Veeam's report finds 76% of businesses who are victims of cyberattacks paid the ransom to recover data, but a third were still unable to get their information back.
Story image
Cybersecurity
Comcast to use ThreatQuotient for cybersecurity operations
Comcast, the parent company of NBC Universal and SKY Group, has chosen ThreatQ Platform and ThreatQ Investigations to meet their cybersecurity needs.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Amazon Web Services / AWS
RedShield leverages AWS to scale cybersecurity services
"Working with AWS gives RedShield the ability to mitigate significant application layer DDoS attacks, helping leaders adopt best practices and security architectures."
Story image
ChildFund
ChildFund launches new campaign to protect children online
ChildFund says WEB Safe & Wise aims to protect children from sexual exploitation and abuse online while also empowering them to become digitally savvy. 
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Story image
Cybersecurity
Noname Security partners with Netpoleon to target API issues
Specialist API security firm Noname Security has appointed Netpoleon as its distributor in Australia and New Zealand.
Story image
Wireless
Hands-on review: Technics EAH-A800 Noise Cancelling Wireless Headphones
Designed in Osaka, Japan, these headphones just exude quality. They aren’t heavy, but they feel well built and solid.
Story image
Digital Transformation
Pluralsight and Ingram Micro Cloud team up on cloud initiative
Pluralsight has teamed with Ingram Micro Cloud to build upon cloud competence and maturity internally, and externally support partners’ capabilities.
Story image
Collaboration
Meadows exits Ingram Micro New Zealand on a good note
We look at the resignation of Danny Meadows from Ingram Micro's New Zealand Unified Communications & Collaboration business unit.
Story image
Vodafone
Vodafone NZ buys remaining stake in retail joint venture
Vodafone New Zealand has purchased the remaining 50% stake in the specialist joint venture (JV) with private equity company Millennium Corp.
Story image
Nozomi Networks
Nozomi Networks, Siemens reveal software integration
Nozomi Networks and Siemens have extended their partnership by embedding Nozomi Networks’ software into the Siemens Scalance LPE local processing engine.
Story image
Phishing
KnowBe4 celebrates reaching 50,000 customers worldwide
KnowBe4 has reached the milestone of 50,000 customers, adding nearly 2,500 in the first quarter of 2022 alone.
Story image
Getac
Getac and Optalert expand partnership to promote industrial safety
Getac’s ZX70 Android tablets will be used to support Optalert’s Eagle Industrial early-warning drowsiness detection system for use in mining and transportation.
Story image
Cybersecurity
NCSC advisory highlights poor security configurations
The GCSB's National Cyber Security Centre (NCSC) has released a cyber security advisory identifying commonly exploited controls and practices.
Story image
Commerce Commission
ComCom appeals $2.25 million fine in Vodafone FibreX case
The Commerce Commission has filed an appeal in the High Court against a $2.25 million fine imposed on Vodafone NZ for its offending under the Fair Trading Act.
Story image
Cloud Security
Aqua Security createa unified scanner for cloud native security
“By integrating more cloud native scanning targets into Trivy, such as Kubernetes, we are simplifying cloud native security."
Story image
Surveillance
Motorola Solutions acquires Videotec S.p.A for security portfolio
Motorola Solutions has acquired Italian ruggedised video security company Videotec S.p.A, along with its portfolio of highly versatile cameras.
Story image
Microsoft
New Relic enters multi-year partnership with Microsoft Azure
New Relic has announced a strategic partnership with Microsoft to help enterprises accelerate cloud migration and multi-cloud initiatives. 
Story image
Data Protection
Barracuda launches new capabilities for API Protection
"Every business needs this type of critical protection against API vulnerabilities and automated bot attacks," Barracuda says.
Story image
Workato
Workato unveils enhancements to enterprise automation platform
"The extra layer of protection with EKM, zero-logging, and hourly key rotation gives customers a lot more visibility and control over more sensitive data."
Story image
Application Performance Monitoring / APM
Why SolarWinds Partners will have big wins in 2022
We summarise the key recent changes that the monitoring software vendor has made to accelerate its channel business.
Story image
Fonterra
Fonterra to use automated guided vehicles by Dematic
New Zealand's dairy giant Fonterra is upgrading its manufacturing facility in Edendale with new automated guided vehicles (AGVs) from Dematic.
Story image
Silver Peak
The path to an adaptive, modern network
Managing and securing the network looks different than it did just two years ago—especially given that most of these networks are made up of multi-generations of infrastructure stitched together over time.
Story image
Digital Marketing
Similarweb acquires SEO and rank tracking company Rank Ranger
Digital intelligence company Similarweb, which specialises in analysing web traffic, has acquired Rank Ranger, a market leader in SEO and rank tracking.
Story image
Vectra AI
Understanding the weight on security leader’s shoulders, and how to shift it
Millions of dollars of government funding and internal budgets are being funnelled into cybersecurity to build resilience against sophisticated threats, indicating how serious this issue has become.
Story image
Training
Delinea enhances partner experience with new training initiatives
Delinea has announced a range of training and certification initiatives to help scale the capacity of VARs, System Integrators, MSPs and MSSPs to meet the demand for PAM solutions.
Booster
Booster Innovation Fund. A fund of Kiwi ingenuity – for Kiwi investors.
Link image
Story image
Sustainability
Legrand unveils Nexpand, a data center cabinet platform
Legrand has unveiled a new data center cabinet platform, Nexpand, to offer the necessary scalability and future-proof architecture for digital transformation.
Story image
Artificial Intelligence
SAS announces new products amid cloud portfolio success
Analytics and AI company SAS is deepening its broad industry portfolio with offerings that support life sciences, energy, and martech.
Story image
Cybersecurity
BlackBerry offers Kaspersky replacement cybersecurity for the channel
BlackBerry advises that users of Kaspersky software in Australia and New Zealand undertake a rigorous risk analysis of their current security posture.