Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Profitable Co., Ltd. (the Company) is a company listed on SEHK in Hong Kong. Mr. Smart is the managing director of the Company. In March
Profitable Co., Ltd. (the Company) is a company listed on SEHK in Hong Kong. Mr. Smart is the managing director of the Company. In March 2020, the Company started negotiations on three important projects and if they are successful, it will bring a lot of profit to the Company. In May of the same year, the Company has signed the contract of one of the three projects. Upon notice of the success in that project, Mr. Smart immediately disclosed to his mistress that the Company had entered into contracts for all the three projects (which are obviously not true). His mistress is the Chief Editor of a finance newspaper and she immediately released the information to the public through her newspaper. As a result, the stock price of the Company has been raised by 300%. Required Briefly introduce the different types of market misconduct and identify the type of market misconduct that Mr. Smart has committed. Explain in detail the type of market misconduct that you have identified
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started