Price manipulation
Conduct that gives false or misleading signals about supply, demand or price of financial instruments, undermining market integrity.
Price manipulation covers transactions, orders or communications that distort the market price or create a false impression of trading activity, supply or demand. Examples include wash trades, matched orders, marking the close or spreading misleading rumours, depending on the facts. Swiss financial market law treats market manipulation as a serious breach and may trigger FINMA action, exchange sanctions, civil claims and criminal liability. Legitimate trading strategies, stabilisation or market making must comply with applicable rules and cannot be used as a cover for deceptive conduct.