from the Securities Exchange Act (as ammended)(I like para's 3 & 4):
78i. Manipulation of security prices
(a) Transactions relating to purchase or sale of security
It shall be unlawful for any person, directly or indirectly, by the use
of the mails or any means or instrumentality of interstate commerce ,
or of any facility of any national securities exchange , or for any
member of a national securities exchange -
(1) For the purpose of creating a false or misleading appearance of
active trading in any security registered on a national securities
exchange, or a false or misleading appearance with respect to the market
for any such security, (A) to effect any transaction in such
security which involves no change in the beneficial ownership thereof,
or (B) to enter an order or orders for the purchase of such
security with the knowledge that an order or orders of substantially the
same size, at substantially the same time, and at substantially the
same price, for the sale of any such security, has been or will be
entered by or for the same or different parties, or (C) to enter any
order
or orders for the sale of any such security with the knowledge that an
order or orders of substantially the same size, at substantially the
same time, and at substantially the same price, for the purchase of such
security, has been or will be entered by or for the same or
different parties.
(2) To effect, alone or with one or more other persons, a series of
transactions in any security registered on a national securities
exchange creating actual or apparent active trading in such security or
raising or depressing the price of such security, for the purpose of
inducing the purchase or sale of such security by others.
(3) If a dealer or broker , or other person selling or offering for sale
or purchasing or offering to purchase the security , to induce the
purchase or sale of any security registered on a national securities
exchange by the circulation or dissemination in the ordinary course of
business of information to the effect that the price of any such
security will or is likely to rise or fall because of market operations
of any
one or more persons conducted for the purpose of raising or depressing
the prices of such security.
(4) If a dealer or broker, or other person selling or offering for sale
or purchasing or offering to purchase the security , to make,
regarding any security registered on a national securities exchange, for
the purpose of inducing the purchase or sale of such security, any
statement which was at the time and in the light of the circumstances
under which it was made, false or misleading with respect to any
material fact, and which he knew or had reasonable ground to believe was
so false or misleading. |
