One of Alex$$s friends works at an online share dealing company. He tells Alex

that his company was making a large amount of money by undertaking very large buying and selling transactions in certain companies just before the close of business each day. They usually buy back or sell their purchases early the next day and it is a way that the firm efficiently uses its surplus funds overnight.

Today, following a visit from a regulator$$s audit team they have been told this practice must cease immediately and further investigations are under way.

Explain to Alex why the regulators would have taken this action. Answer must be redaring Market Abuse Regulations $2016.$