In that release, ASIC said it alleged Vizard had breached his duty as a director and used confidential Telstra information when he traded in shares in three listed companies. It detailed the orders it was seeking and then said it had filed a statement of agreed facts with the Federal Court in which Vizard agreed with the facts behind the allegations. It also said he had agreed it was appropriate for the court to declare he had contravened his duty to Telstra in using the Telstra information. That has been interpreted widely, and wildly, to mean Vizard has confessed to insider trading. The statement of facts isn't, however, a public document - we don't know what facts he has agreed to at this point. The agreement with ASIC that it is appropriate for the court to declare he breached his duty to Telstra doesn't go as far as admitting to insider trading.