The regulatory decision brings a conclusion to a period of intense scrutiny for the Sydney-based firm, which manages software for over 20,000 logistics providers globally. Alongside the trading investigation, ASIC also shuttered a separate inquiry into the company’s governance that began in 2024. Despite the positive market reaction, with the stock rising 3.2% to 34.61 Australian dollars, the price remains significantly below its November 2024 peak of A$138.93.
In section Market Quotes
WiseTech Shares Rally as Regulator Drops Probe into Cofounder
The Australian Securities and Investments Commission has cleared WiseTech Global cofounder Richard White of allegations regarding suspicious share trading. Following the announcement that no enforcement action will be taken against White or two other employees, the logistics-software provider saw its shares climb to a five-week high.
While the cloud over White—now the company's chief innovation officer—has lifted, the regulatory landscape remains complex. ASIC continues to investigate an individual unaffiliated with the company, and memories of the October 2025 search warrant executed at WiseTech’s headquarters persist. White’s tenure has been marked by significant turbulence, including his resignation as CEO following personal conduct allegations, a subsequent exodus of board members, and his eventual return to an executive role alongside the appointment of Zubin Appoo as CEO.
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