Jailed former HIH CFO Dominic Fodera faces up to five more years' imprisonment after pleading guilty to a charge brought by the Australian Securities and Investments Commission (ASIC) in the Supreme Court of NSW.

ASIC alleges Mr Fodera failed to disclose the true nature of contractual arrangements between HIH and Hannover Re in order to obtain a beneficial accounting treatment.

An ASIC spokesman says the maximum penalty applying when the offence occurred in 1999 is $200,000 or five years' imprisonment, or both. Sentencing will take place on October 22.

In June Mr Fodera became the ninth executive to be prosecuted as part of ASIC's investigation into the collapse of HIH, and the eighth to be given a custodial sentence. His three-year sentence was backdated to May 10 2007, with early release after two years on entering into a recognisance.

ASIC still has criminal prosecutions pending against three executives as a result of its investigation into HIH, which collapsed in 2001 with debts of $5.3 billion.

Former HIH Chairman Geoffrey Cohen will stand trial in March next year on a charge of making misleading statements about a joint venture between HIH and Allianz. And the trial of former FAI executives Ashraf Kamha and Daniel Wilkie is due to start in July.