Ferocious beast or toothless tiger? The regulation of stock market manipulation in Australia
Paul A. Constable
What the paper says
The manipulation of the price of shares listed on stock markets and other financial products by malefactors intent on benefitting themselves at the expense of others is not a new phenomenon. Yet, despite the efforts of governments and regulators over many hundreds of years to combat the perpetration of stock market manipulation, securities markets, including Australia's securities market, still appear to be frequented by those intent on artificially affecting the price of listed shares through manipulative trading activities. This continues to be a concern given that such activities are harmful to the integrity, fairness and international reputation of Australia's capital markets and have the capacity to damage the wellbeing of the national economy. The aim of this article is to place stock market manipulation and government efforts to prevent its occurrence in a historical context, consider the various manifestations of this practice and gauge the extent to which it is occurring on Australia's securities market and the success, or otherwise, of the national regulator in combating this insidious and illegal activity.
5 citations
Evidence weight
Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40
| F · citation impact | 0.20 × 0.4 = 0.08 |
| M · momentum | 0.68 × 0.15 = 0.10 |
| V · venue signal | 0.50 × 0.05 = 0.03 |
| R · text relevance † | 0.50 × 0.4 = 0.20 |
† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.