ASX loses two directors after ASEC charges

THE ASX is down two directors after Russell Aboud and Shane Finemore handed in their resignations following charges levelled against their hedge fund by the American Securities and Exchange Commission.

The Australian Financial Review reports Manikay Partners was one of 23 companies targeted with the charges, accused of short-selling violations.

In a brief statement, the ASX confirmed the resignations and thanked the pair for their contributions.

The trades in question related to activity from 2009.