Media
BCSC eyes new rules to address manipulation of stocks on social media
|
The capital market watchdog’s plan to introduce rules for all social media platforms is noteworthy amid recent volatility in previously underwhelming stocks such as GameStop and AMC, which appears to have been driven in no small part by retail investors across North America responding to videos on YouTube and postings on the social media platform Reddit.
Brady said the B.C. securities regulator, no stranger to wild stock swings and promotional activity, is looking at a number of new enforcement tools following a wave of “problematic promotional activities” over the past few years, much of it involving cannabis and blockchain companies, and battery metals such as lithium and cobalt.
The pump and dump game has changed
Peter Brady, executive director, BCSC
In addition to the rules that would specifically target disclosure on social media, legislative amendments to the provincial securities act passed last March relieved the BCSC of the need to establish that a misrepresentation had an effect on share price, a change that lowers the burden of proof for the regulators and makes enforcement easier.
The BCSC only has to prove only that a statement or omission would be “important” to a “reasonable Investor” in determining whether to trade a security.
“If we don’t have to prove market impact, then we can be more effective in combatting misleading statements (including) on social media,” Brady said. “Maybe you would never be able to show that that lie is going to move the stock.”
He said there has not yet been a test case of the lower threshold, and it is too soon to say if any of the new powers sought by the watchdog could be used to intervene in current cases of trading volatility, which bled from stocks including GameStop, BlackBerry Ltd., and Bed Bath & Beyond into the silver market last week.
Source: – Financial Post
Media
Lawmakers pan Ben Gvir for ‘unforgivable’ tweet on alleged Israeli strike on Iran – The Times of Israel
Italian FM says Israel gave US ‘last minute’ warning about drone attack on Iran
CAPRI, Italy (AP) — The United States told the Group of Seven foreign ministers that it received “last minute” information from Israel about a drone action in Iran early this morning, Italy’s foreign minister says.
Italian Foreign Minister Antonio Tajani, who chaired the meeting of ministers of industrialized countries, says the United States provided the information at session this morning that was changed at the last minute to address the suspected attack.
Tajani says the US informed the G7 ministers that it had been “informed at the last minute” by Israel about the drones. “But there was no sharing of the attack by the US. It was a mere information.”
Early Friday, Iran fired air defenses at a major air base and a nuclear site near the central city of Isfahan after spotting drones, part of an apparent Israeli attack in retaliation for Tehran’s unprecedented drone-and-missile assault on the country last weekend.
In a communique following the three-day meeting, the ministers urged the parties “to prevent further escalation.”
Media
DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation. – Barron's
[unable to retrieve full-text content]
DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation. Barron’s
Source link
Media
DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation. – Barron's
[unable to retrieve full-text content]
DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation. Barron’s
Source link
-
Media7 hours ago
DJT Stock Rises. Trump Media CEO Alleges Potential Market Manipulation. – Barron's
-
Media9 hours ago
Trump Media alerts Nasdaq to potential market manipulation from 'naked' short selling of DJT stock – CNBC
-
Investment8 hours ago
Private equity gears up for potential National Football League investments – Financial Times
-
Health22 hours ago
Type 2 diabetes is not one-size-fits-all: Subtypes affect complications and treatment options – The Conversation
-
Media22 hours ago
DJT Stock Jumps. The Truth Social Owner Is Showing Stockholders How to Block Short Sellers. – Barron's
-
Sports24 hours ago
How the NHL moved the Arizona Coyotes to Salt Lake City – Sportsnet.ca
-
Business22 hours ago
Tofino, Pemberton among communities opting in to B.C.'s new short-term rental restrictions – Vancouver Sun
-
Art24 hours ago
Art in Bloom returns – CTV News Winnipeg