Capital Markets & Securities Crime

Market manipulation and undisclosed material information cases begin with numbers—account trading records. We first examine the assumptions on which those numbers were interpreted.

The meaning of matched orders or high-price buy orders must be read together with market conditions, and the materiality and non-disclosure of information are judged in relation to the timing of disclosure.

In delisting substantive review proceedings, the outcome is shaped by the work of documenting, in writing, the feasibility of the improvement plan.