Singapore legislation
Clause 67
Clause 67
Market rigging transactions
(1)
A person shall not effect, take part in, be concerned in or carry out, either directly or indirectly, any transactions in any class of securities which have the effect of raising or lowering the price of securities of that class for the purpose of inducing the purchase or sale of securities of that class by others.
(2)
It shall be a defence to a prosecution under subsection (1) of this section if the defendant satisfies the Court that he acted without malice and solely to further or protect his own lawful interests.
(3)
A person shall not, in consideration or anticipation of a reward or benefit, circulate or disseminate or authorize or be concerned in the circulation or dissemination of any statement or information to the effect that the price of any securities will or is likely to rise or fall because of any act that to his knowledge is or would be a contravention of subsection (1) of this section.