The Securities and Exchange Commission (SEC) is still on the tail of perpetrators who have been manipulating share prices in the market during late last year, sources close to SEC said.
“The SEC has identified some share brokers as well as many traders who seem have been pushing certain shares up in price during the past few months,” a source told the Business Times.
He said that the securities watchdog is currently investigating more than six such cases.
The SEC was looking at these trades closely to identify the perpetrators and there is evidence of manipulation. “The perpetrators will be dealt with severely by the SEC,” the source said.
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