ASIC does not allow it, it has been litigated. This type of spoofing / algorithmic bot down ticking behaviour is illegal. https://www.facebook.com/watch/?v=1329215784175475 Thanks to "chuxy" original post: 60396968.
My understanding of why it still happens quite regularly is because there are 2000+ stocks, and ASIC is severely underfunded.
I highly recommend watching the video, it references the litigated cases.
It will also give you great confidence every time you see "down ticking" behaviour... because there is only one reason to do it on a company that just found "globally significant oil".
The strategy is... we let them do it for now... then later we report them... it's not our job to clear up the market...
Ann: Zapato-1 Drilling Update, page-215
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