In 2012 we 1st took a look at the SEC enforcement action against AutoChina International for market manipulation. Roughly two (2) years later, the SEC has obtained its first judgments against the company and its principal executive officer in this case.
Tag: matched order
The Securities Exchange Commission (SEC) defines a “matched order” as when trades are coordinated for the purchase or sale of a security. Essentially an order is placed with the knowledge that another order (or orders) of substantially the same size, at substantially the same time, and at substantially the same price, has been or will be entered. The SEC considers matched orders to be a form of market manipulation.
Market Manipulation and “Noneconomical Trading”
Coral Capital Partners looks at a SEC Enforcement Action for market manipulation and non-economical trading. This is an extremely interesting look at the manipulation of the public market for a micro-cap company’s common stock, how it was accomplished, and the penalties imposed. We also look at the SEC ‘s definition of these types of market manipulation and where they run afoul of the Exchange Act of 1934. This blog and the associated SEC Litigation Release and Complaint filed in Federal Court provide a very interesting read.