US EditionFive Tiny Trades, One Massive Fine After Long Investigation
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Five Tiny Trades, One Massive Fine After Long Investigation
An Auckland-based retail investor has been ordered to pay a penalty of NZ$198,000 after being found liable for market manipulation on the New Zealand Stock Exchange (NZX). The ruling brings to a close a civil case brought by the Financial Markets Authority (FMA) against Kok Ding Cheng, who the court found deliberately placed a series of small buy orders in late 2020 to influence the price of shares in Rua Bioscience Limited (NZX: RUA).Investor O…
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