FMA warns trader on market manipulation

Thu, 22 Jan 2015

By Suze Metherell Jan. 23 (BusinessDesk) - The Financial Markets Authority has formally warned an unnamed trader over market manipulation for buying the same shares they were trying to sell. The individual engaged in "bait-and-switch" trading, where a trader buys and sells their own shares to themselves, giving the market the false impression there is more volume, demand and value in the stock, and is prohibited under the Securities Markets Act, the market regulator said in a statement. A spokeswoman for the FMA wouldn't say who the trade...

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