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Financial Markets Control Act, 1989 (Act No. 55 of 1989)

20. False Trading and Market Manipulation

 

 

No person shall —

(a) create, or cause to be created, or do anything that is calculated to create, a false or misleading appearance of active dealing in financial instruments on a financial market, or a false or misleading appearance with respect to the market for, or the price for dealing in, financial instruments on a financial market;
(b) whether directly or indirectly, participate in a dealing in a financial instrument on a financial market which is intended to have the effect of —
(i) creating an artificial price for dealing in financial instruments on a financial market; or
(ii) maintaining at a level that is artificial a price for dealing in financial instruments on a financial market; or
(c) by means of any fictitious or artificial transaction or device maintain, inflate or depress, or cause fluctuations in, the price for dealing in financial instruments on a financial market.