No action taken by the Securities Commission

The Securities Commission has decided not to take action over shareholder allegations of insider trading at biotechnology investor Wool Equities.

The commission was handed the matter by the exchange operator, NZX, in November.

"The review related to allegations of insider trading against the former chairman, Richard Bentley, and the former chief executive officer, Mark O'Grady," commission spokeswoman Catherine Chapman said. "The commission will not be taking any further action in this matter."