The regulation of market manipulation in australia: a historical comparative perspective


Historical overview of the prohibition of market manipulation



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2 Historical overview of the prohibition of market manipulation

2.1 The prohibition of market manipulation under the common law

Australia, like many other jurisdictions,8 does not statutorily define the concept of "market abuse" and other related practices like market manipulation. However, it is generally accepted that market manipulation activities were outlawed under common law in the years prior to 18999 and later codified in 1899 in Australia.10 Therefore, like the United Kingdom (UK),11 Australia primarily prohibited market manipulation through common law principles.12 Market manipulation is usually interpreted to include activities that interfere with the natural forces of supply and demand of a particular security or financial product in Australia.13





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