Activities aimed at unlawfully influencing the price of a security – in the narrower sense: a listed security. In recent years, such activities have increasingly been taking place in the legal vacuum of the Internet, primarily through – the dissemination of counterfeit statements of facts, also on Twitter, – forged letters to shareholders, – reports of alleged press conferences, – the promotion of worthless securities on relevant Internet websites and tweets (messages at Twitter); messages at Twitter), – announcements of fake ad hoc announcements, – euphemistic statements by board members and key people in the media, and – enthusiastic comments in letters to the editor, Internet forums, blogs and tweets by people who have allegedly become rich by investing in the stock in question. – In recent years, regulators have refined their methods for detecting stock price manipulation, but are often powerless in the face of some actions – such as those mentioned above and above – despite the “Ordinance on the Concretization of Stock Price and Market Manipulation (KuMaKV),” which came into force at the end of November 2003. – See algorithm trading, blog, daimonion, steam room, deuteroscopy, rumor scattering, trading, covertly shared, hoax, Internet forums, credit risk, price jump, crystallization, market activity, feigned, market abuse, market maintenance, know-nots, pairoff, scalping, fortune-telling money. – Cf. 2001 Annual Report of the Federal Supervisory Office for Securities Trading, p. 27 f., BaFin Annual Report 2002, p. 151 ff, BaFin Annual Report 2003, p. 186 ff (with cases uncovered), BaFin Annual Report 2004, p. 174.
(Facts newly specified by the new market manipulation
Konkretisierungsverordnung [MaKonV] of March 2005), p. 189 (basic statements on the determination), p. 193 et seq. (overview; individual cases) as well as the respective annual report of BaFin, chapter “Supervision of Securities Trading and Investment Business.”
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/