RE: What happened to.....3 Jun 2025 06:46
Serenstar, AI also tells us, although in this case it is not told in error:
Yes, knowingly disseminating false information on a PLC (public limited company) share board — especially with the intent to manipulate the market — can be a criminal offence in the UK and many other jurisdictions.
In the UK, relevant laws include:
1. Market Abuse Regulation (MAR)
Under MAR (which still applies post-Brexit in a UK version), it's illegal to:
Disseminate information that gives or is likely to give false or misleading signals about the supply, demand, or price of financial instruments (like shares),
Especially when the person knew or ought to have known that the information was false or misleading.
Penalties: Can include fines and criminal prosecution, with potential prison sentences.
2. Financial Services and Markets Act 2000 (FSMA)
Section 89–91 of FSMA criminalise:
Misleading statements, misleading impressions, and market manipulation.
This includes false statements about a PLC’s financial health, performance, or prospects, particularly when intended to induce others to invest, sell, or refrain from doing so.
Penalties: Up to 7 years' imprisonment, unlimited fines, or both.
3. Fraud Act 2006
If the false information is disseminated:
With intent to make a gain or cause a loss, it may constitute fraud by false representation.
Penalties: Up to 10 years' imprisonment.
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Key Points:
Intent and knowledge are central: doing it knowingly and with the purpose of manipulating market perception is what makes it criminal.
Anonymous internet forums or share boards (like those on ADVFN, LSE, etc.) are not immune — regulators monitor them.
Regulatory Bodies:
Financial Conduct Authority (FCA) is the UK regulator with powers to investigate and prosecute market abuse.
They do act on tips and online behaviour, especially if there's evidence of manipulation, pump-and-dump schemes, or insider dealing.
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