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Article NO. Content

Title:

Securities and Exchange Act  CH

Amended Date: 2024.08.07 
Article 155 The following acts are prohibited with respect to securities listed on a stock exchange:<br/>1. Placing an order to trade or a quote to trade on a centralized securities exchange market and failing to perform settlement after the trade is executed, where sufficient to affect the market order.<br/>2. (Deleted)<br/>3. Conspiring with another party in a scheme in which one party sells or buys a certain security at an agreed price while the other party buys or sells it in a corresponding trade(s), with the intent to inflate or deflate the trading price of that security on the centralized securities exchange market.<br/>4. Continuously buying a certain security at high prices or selling it at low prices oneself or under the name of another with the intent to inflate or deflate the trading price of that security on the centralized securities exchange market, with a likelihood that market prices or market order will be affected.<br/>5. Continuously placing orders for trades or quotes for trades and completing corresponding trades oneself or under the name of another, with the intent to create an impression of brisk trading in a certain security on the centralized securities exchange market.<br/>6. Spreading rumors or false information with the intent to affect the trading prices of securities traded on the centralized securities exchange market.<br/>7. Directly or indirectly engaging in any other act of manipulation to affect the trading prices of securities traded on the centralized securities exchange market.<br/>The provisions of the preceding paragraph shall apply mutatis mutandis to trades conducted on the over-the-counter market.<br/>Persons who violate the preceding two paragraphs shall be liable to compensate the damage suffered by bona fide buyers or sellers of the securities.<br/>The provisions of paragraph 4 of Article 20 of this Act shall apply mutatis mutandis to the preceding paragraph.