The court said it was dismissing the charges, deferring to a December 6 decision by the supreme court that found the charge sheet filed by the state prosecution and relating to market manipulation
Jared Bibler, head of enforcement for the blue-chip SIX Swiss Exchange, has opined that more market manipulation
cases could yet be reported.
It may be noted that market manipulation
is a criminal offence and is defined in Section 133 of the Securities Act, 2015.
It was informed that during the current year SECP has filed 7 criminal complaints for market abuses that include both insider trading and market manipulation
Federal Energy Regulatory Commission (FERC) Office of Enforcement has been aggressive, especially against alleged market manipulation
by banks and those in the energy and gas markets, and has opened 17 new investigations in 2014.
53) Subsection 2 of FERC's Anti-Manipulation Rule, titled "Prohibition of electric energy market manipulation
," reads in part as follows:
The draft rules lay down tougher criminal penalties, including prison terms, for serious market abuses such as unlawful disclosure of information, insider dealing or market manipulation
and also inciting, aiding or abetting them.
This is the first law to introduce tough EU-wide criminal penalties for market abuse, with a minimum jail sentence of 4 years for serious offences such as insider dealing and market manipulation
," said the British MEP in press statements.
Law enforcement and the history of financial market manipulation
The figures follow the news that British regulators have revealed that they have not found any evidence of gas market manipulation
despite claims that traders were fixing prices.
THE Government has unveiled a package of reforms in the energy market, including the prospect of criminal sanctions, a new probe into firms' accounts, increasing penalties for market manipulation
, and moves to make switching supplier simpler.
16 October 2013 - Prosecutors in Germany decided not to investigate any further the alleged market manipulation
resulting in healthcare group Fresenius SE & Co KGaA (ETR:FRE) failing to buy peer Rhoen-Klinikum AG (ETR:RHK) in 2012, Reuters cited today a spokesman for Rhoen's chairman as saying.
Eugen Muench, Rhoen's chairman and founder, filed charges in July against Bernard Broermann, the owner of Asklepios Kliniken GmbH, and other Asklepios executives, claiming market manipulation
and attempted coercion to prevent Fresenius' EUR3.
The SESC is believed to have verified the market manipulation
through cooperation with Singaporean market surveillance authorities under a multilateral accord for sharing related information.
At the end of July 2012, the Commission proposed to amend these two proposals to include market manipulation
or attempted manipulation in the definition of market abuse, in the wake of the Libor scandal in 2012.