1- 1. Ph.D. student in Private Law, Tarbiat Modares University, Tehran, Iran
2- 2. Professor, Faculty of Law, Tarbiat Modares University, Tehran, Iran
3- 3. Associate Professor, Faculty of Law, Tarbiat Modares University, Tehran, Iran
Abstract: (10340 Views)
Securities markets manipulation will affect their fairness, reduce public confidence in the markets, and prevent them play their role properly. Legal and economic paradigms disagree on the definition of manipulation, especially about how it can be distinguished from other activities and transactions. For various reasons such as efficiency and market integrity, investor’s protection and moral considerations, legal systems have prohibited it; and for dealing with it, they have set up civil, disciplinary and even criminal sanctions. Information-based manipulation, action-based manipulation and trade-based manipulation are the main three types. The latter sort is important and more complicated.
* Corresponding author’s E-mail: tafreshi@modares.ac.ir
Received: 2014/07/20 | Accepted: 2015/03/7 | Published: 2015/06/21