This paper aims to consider “spoofing”, “layering” and “short reports” in the context of market manipulation and, in particular, a recent controversy involving a short-selling…
Abstract
Purpose
This paper aims to consider “spoofing”, “layering” and “short reports” in the context of market manipulation and, in particular, a recent controversy involving a short-selling attack on a major UK listed company that was considered by the High Court.
Design/methodology/approach
The very demanding legal and evidential prerequisites and practical difficulties, involved in bringing both criminal and regulatory actions in such cases are identified and discussed, as is the role of the Financial Conduct Authority.
Findings
These challenges help explain why so few actions of this type are brought.
Originality/value
This is the first paper to consider the implications of Burford Capital Limited v London Stock Exchange Plc [2020] EWHC 1183 (Comm).
Details
Keywords
THE Conference has come and gone, leaving pleasant memories behind it of what we believe has been a useful meeting. On other pages our contributors have expressed various views…
Abstract
THE Conference has come and gone, leaving pleasant memories behind it of what we believe has been a useful meeting. On other pages our contributors have expressed various views, and with these, in the main, we are in agreement. The Conference was too full, but that was anticipated by all who had glanced at the programme when it was issued. Perhaps, now that criticism has become very articulate on this subject, the future organizers of annual meetings will endeavour to limit the subjects for discussion to a number that can be digested conveniently.