when will the games end, page-28

The following may be of interest (http://www.businessspectator.com.au/bs.nsf/Article/Small-miners-targeted-in-ASX-probe-C5PYM?OpenDocument)


Small miners targeted in ASX probe

Small mining companies are likely to be under increased surveillance amid an increased number of referrals to the Australian Securities Exchange (ASX) about market manipulation and inadequate disclosure, The Australian Financial Review reports.

According to chief supervision officer Eric Mayne, a top priority this year for the ASX was to intensify monitoring of the disclosure obligations of small firms and compliance by miners, the AFR reports.

"When you have the market going down, there is more likelihood that there is market manipulation, people trying to maintain prices, whether it is [for] their own trading strategies, margin call requirements, whatever it may be," Mr Mayne told the paper.

About half of the 18 referrals to the corporate regulator in fiscal year 2007 either "came out of Perth" or were in relation to companies based in the WA, Mr Mayne said.