and Lukas Kamay v The Queen

Lukas Kamay was convicted of insider trading and sentenced to seven years in prison, marking the largest sentence for such an offence. Kamay appealed the severity of the sentence on several grounds, including the weight given to the profit made from the offence, the mitigating factors of his youth, good character, and loss of profession, and the parity of his sentence with co-offenders. The Court of Appeal examined the sentencing principles and the specific factors influencing the sentence. The appeal court held that the sentencing judge did not err in considering the profit made from the insider trading as it reflected the seriousness of the offence and the damage caused to the integrity of the market. The court also determined that the mitigating factors, while relevant, did not warrant a significantly lower sentence given the importance of deterrence in white collar crime. Regarding parity with co-offenders, the court found that the differences in their roles justified the variance in sentences. Ultimately, the appeal was dismissed, upholding the original sentence.