WiseTech Global (ASX:WTC) shares rose 12.1% over two sessions after the corporate regulator ASIC closed its investigation into share trading by founder Richard White and two other employees without taking action. The stock gained 2.8% to A$34.50 on Thursday 15 October 2026, then jumped 9.0% to A$37.61 on Friday.
What ASIC decided
In an ASX announcement released before the market opened on Thursday, WiseTech said ASIC had resolved two matters:
- Share trading investigation: ASIC concluded its investigation into alleged trading in WiseTech shares by Richard White and two other current employees, and issued no-action letters to all three. This means ASIC does not intend to take enforcement action against them
- Governance investigation: ASIC also closed a governance investigation that began in late 2024 and issued WiseTech a no-action letter
ASIC’s investigation into one other individual, who is not a WiseTech employee, is continuing.
Chair Raelene Murphy called the outcome “another step forward for the Company” and said the focus is on long-term shareholder value.
What the probe was about
The investigation became public in late October 2025, when ASIC, with help from the Australian Federal Police, executed search warrants at WiseTech’s Sydney headquarters. WiseTech shares closed 15.9% lower at A$71.52 when trading next opened, according to Startup Daily.
Media reports alleged that White sold about 1.8 million shares, worth nearly A$230 million, during a blackout period between 31 December 2024 and 26 February 2025, when key executives are usually barred from trading ahead of results. A WiseTech spokesperson said in February 2025 that White had obtained independent legal advice before the trades.
Where Richard White stands now
White stepped down as WiseTech CEO in October 2024 and as chair in July 2026, according to the ABC. He remains on the board and in an executive role as chief innovation officer, and is WiseTech’s biggest shareholder with around a third of its shares.
Why it matters for investors
The share trading probe had hung over WiseTech for about a year. Even after this rally, the shares are still down about 45% this year.
Friday’s jump also came as ASX tech stocks rebounded about 5.6% after a sharp sell-off on Thursday, so not all of the gain can be put down to the ASIC news.
Why blackout periods matter
ASX-listed companies must have a trading policy, which usually bans directors and senior executives from trading in the weeks before results. Directors’ trades must also be disclosed to the ASX in an Appendix 3Y notice within five business days. Our Megaport insider trading analysis explains how to read these notices, and our report on GYG chair Guy Russo’s A$35.6 million share sale shows one in action.
What WiseTech investors should watch
- The remaining ASIC investigation into the non-employee
- Director trades in Appendix 3Y notices, especially any by White
- The upcoming AGM, after WiseTech released its notice of meeting this week
Bottom line
ASIC’s no-action letters remove a major overhang for WiseTech shares after a year of uncertainty. The stock has bounced 12% in two days, but it remains well below where it started the year.
This article is general information based on ASX announcements and media reports and is not financial advice.
