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Trading regulators warn against spreading false rumors

SAN FRANCISCO (MarketWatch) — Market self-regulatory organizations late Monday warned traders against circulating any “sensational rumors that might reasonably be expected to affect market conditions” as well as trading on material, non-public information. “Intentionally spreading false rumors or engaging in collusive activity to impact the financial condition of an issuer will not be tolerated and will be vigorously and aggressively investigated,” said the Financial Industry Regulatory Authority, the NYSE Regulation, Inc., and participants of the Options Regulatory Surveillance Authority, in a joint release. Although the organizations did not mention any specific companies, Bear Stearns Cos. executives had complained unfounded rumors of liquidity problems triggered actual flights of capital, leading to the firm’s near collapse. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

This entry was posted on Monday, March 31st, 2008 at 4:03 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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