New NZX market manipulation guidance raised in Warminger trial

Wed, 28 Sep 2016

By Fiona Rotherham Sept. 28 (BusinessDesk) - A joint NZX/Financial Markets Authority collaboration on providing more guidance to the securities industry on the scope of permissible trading conduct was raised today in the country’s first market manipulation trial. Milford Asset Management portfolio funds manager Mark Warminger is accused of breaching securities law that prohibits trading that is not for a genuine commercial purpose and creates an artificial appearance in the market. Warminger’s counsel Marc Corlett QC asked about the cu...

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