Sorry KG. Here you go. DJ Australia Regulator ASIC: Extends Mkt...

Sorry KG. Here you go.

DJ Australia Regulator ASIC: Extends Mkt Manipulation Inquiry

(MORE TO FOLLOW) Dow Jones Newswires
September 17, 2008 03:14 ET (07:14 GMT)
*DJ Australia's ASIC: Extends Scope Of Inquiry

(MORE TO FOLLOW) Dow Jones Newswires
September 17, 2008 03:15 ET (07:15 GMT)
*DJ Australia ASIC: Looking At Alleged False Rumors On Macquarie

(MORE TO FOLLOW) Dow Jones Newswires
September 17, 2008 03:16 ET (07:16 GMT)
*DJ ASIC: Recent Volatility Has Caused Rise In Complaints

(MORE TO FOLLOW) Dow Jones Newswires
September 17, 2008 03:17 ET (07:17 GMT)
DJ Australia Regulator ASIC Extends Mkt Manipulation Inquiry

CANBERRA (Dow Jones)--The Australian Securities and Investments Commission said
Wednesday it has extended the scope of its inquiry into alleged market manipulation to
include a number of companies, such as Macquarie Group Ltd. (MQG.AU).
The corporate regulator launched an investigation in March into the practices of
spreading false rumors - especially in conjunction with short-selling - and predatory
trading by hedge funds.
Recent volatility in the market has seen an increase in the number of complaints about
false rumors and market manipulation, ASIC said Wednesday.
"ASIC is looking into alleged false rumors about a number of companies, including
Macquarie Group Ltd.," the regulator said in a statement.
"Pushing false rumors designed to harm a company, such as by forcing a share price
down, is illegal," it said.
The ASIC investigation originally centered on sharp falls in the share prices of a
number of listed companies, particularly childcare group ABC Learning Centres Ltd.
(ABS.AU) and fund manager Allco Finance Group Ltd. (AFG.AU).
Short selling came into sharp focus earlier this year amid concern heavy selling of
certain stocks, including Babcock & Brown Ltd. (BNB.AU), was exacerbated by hedge
funds intent on driving down the share prices.

-By Rachel Pannett, Dow Jones Newswires; 61-2-6208-0901; [email protected]