Last week, ASIC issued a statement concerning false or misleading rumours.
Today, ASIC confirmed that its inquiries have now extended to making formal requests for information from a number of market participants about trading in certain securities over the past weeks.
ASIC’s inquiries are related to conduct which could involve spreading of false or misleading rumours or predatory trading that could amount to market manipulation or insider trading.
ASIC is also contacting the Securities and Exchange Commission in the United States and the Financial Services Authority in the United Kingdom and the Securities and Futures Commission in Hong Kong with a view to seeking their assistance on any international aspects.
ASIC believes that overall the Australian markets are performing effectively given the pressures they are under. ASIC’s inquiries are aimed at ensuring that existing laws are being complied with.