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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (133360)7/13/2008 1:01:32 PM
From: RockyBalboaRead Replies (2) of 306849
 
According to the bloomberg story the SEC sees it differently. But with the "no comment" stance of the FDIC this seems difficult. There will always be rumormongering (even if based on recent company info).

bloomberg.com

SEC to Probe Efforts to Manipulate Stock Prices Through Rumors

By Bill Arthur

July 13 (Bloomberg) -- The Securities and Exchange Commission said it will investigate the spread of false information to manipulate stock prices.

``The examinations will be conducted by the SEC's Office of Compliance Inspections and Examinations, as well as the Financial Industry Regulatory Authority and New York Stock Exchange Regulation Inc.,'' the agency said in a news release today.

The examinations will be in addition to investigations already under way into manipulation of securities prices through rumor-mongering and abusive short selling, the SEC said.

``The examinations we are undertaking with FINRA and NYSE Regulation are aimed at ensuring that investors continue to get reliable, accurate information about public companies in the marketplace,'' said SEC Chairman Christopher Cox.

``They will also provide an opportunity to double-check that broker-dealers and investment advisers have appropriate training for their employees and sturdy controls in place to prevent intentionally false information from harming investors.''

To contact the reporter on this story: Bill Arthur in Washington at barthur@bloomberg.net.

Last Updated: July 13, 2008 12:31 EDT
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