A former tax consultant in New South Wales has been sentenced to two years in prison after being convicted on nine counts of insider trading.

In a release by the Australian Securities and Investment Commission, Nicholas Glynatsis, an ex-employee of PricewaterhouseCoopers, had pleaded guilty to insider trading activities from 20 November 2009 to 30 November 2010, and pocketing some A$50,000 ($52,700).

Glynatsis will serve his sentence under the watch of Corrective Services NSW, under an intensive correction order. 

The ASIC has punished a number of miscreants in the financial services industry. In early December, the agency banned Mark Booty, a former director of Prime Property Investment Perth, for defrauding clients. At about the same time, Elisa Rietbergen of JP Morgan Chase was sentenced to 18 months in jail following an insider trading scheme that netted at least A$24,000.