Actions prohibited in the securities market

Barred securities market actions


- to close purchase deals at close of trading day (sessions) with intent to impact the closing prices for securities or financial derivatives;

- to place and then cancel orders with a price different from that of earlier orders with intent to instigate false impressions as to the price or demand and supply of securities and financial derivatives;

-  for an individual or colluding individuals to place purchase and sale orders for the same securities in the same amount and for the same price, except as otherwise provided by the existing laws of the Republic of Azerbaijan;

- to close deals that would not result in a change of the beneficiary of securities or financial derivatives, or would result in this change individuals working or colluding together;

- to close additional purchase deals and/or disseminate false positive information with intent to inflate the price of securities purchased, and then resell them at a higher price;

- to collude to purchase deals at the time securities are offered with intent to artificially inflate the price and stimulate investor interest by bulk buyers;

- to use inside information to encourage or discourage other individuals from buying (selling) securities or financial derivatives;

- to use inside information in attempt to directly or indirectly gain from securities or financial derivative transactions or deals;

- to disseminate news, rumours or other information that may generate false or misleading impressions with respect to securities through mass media or any other means;

- for journalists to disseminate news or rumours that may generate false or misleading impressions with respect to securities for direct or indirect personal gain;

 - to divulge inside information, other than when required to do so in the line of duty.