Following on my previous post in regard to HFT, and for extra "flavouring", can you see as to whether or not we should thank ASIC and the ASX for their TOTAL failure to enforce the corporations act ?? They need to face a Royal Commission. Can you spot any laws being broken ? THEY cant. This has also being borrowed.
"CORPORATIONS ACT 2001 - SECT 1041C"
"False trading and market rigging--artificially maintaining etc. Trading price
(1) A person must not (whether in this jurisdiction or elsewhere) enter into, or engage in, a fictitious or artificial transaction or device if that transaction or device results in:
(a) the price for trading in financial products on a financial market operated in this jurisdiction being maintained, inflated or depressed; or
(b) fluctuations in the price for trading in financial products on a financial market operated in this jurisdiction.
Note 1: Failure to comply with this subsection is an offence (see subsection 1311(1)). For defences to a prosecution based on this subsection, see Division 4.
Note 2: This subsection is also a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see Division 4 and section 1317S.
(2) In determining whether a transaction is fictitious or artificial for the purposes of subsection (1), the fact that the transaction is, or was at any time, intended by the parties who entered into it to have effect according to its terms is not conclusive."
Enjoy it, and then come back to me.
Buddy
MPO Price at posting:
44.0¢ Sentiment: Hold Disclosure: Held
