ASIC will take no enforcement action against WiseTech Global founder Richard White after concluding its investigation into his selling of his logistics software company’s shares during what’s known as the “blackout period” before results are released.
WiseTech (ASX:WTC) said on Thursday that the corporate regulator had issued no-action letters to White and two current employees, ending investigations that began 12 months ago.
ASIC is still examining the actions of a fourth person, who is not a WiseTech employee.
White sold more than 1.8 million shares between late December 2024 and early February 2025 during a trading blackout period. The sales weren’t disclosed to the market at the time.
The Nine newspapers revealed the trades, worth an estimated $229 million at an average of $122 a share, in early 2025. White said he obtained legal advice before proceeding with the sell down. ASIC officers and Australian Federal Police raided and searched WiseTech’s Sydney office in October 2025.
investigation into another individual remains open. WiseTech said that person is not an employee of the company.
The regulator also closed a separate governance investigation into WiseTech that began in late 2024, issuing the company a no-action letter confirming it does not intend to pursue enforcement action.
WiseTech chair Raelene Murphy described the resolution as “another step forward for the company”, saying its focus was on creating long-term shareholder value.
White stepped down as executive chair in July after Nine newspapers reported that the AFP’s human exploitation taskforce launched an investigation into White following a complaint by the former CEO of anti-money laundering firm Kyckr, which the billionaire acquired in late 2022 for $43.5 milllion. He remains a director of WiseTech.
White previously resigned as CEO of the business he founded 30 years ago in October 2024, before returning to lead the board in February last year.
WiseTech shares currently sit at $34.50.
