Official Text
“Whoever commits fraud in relation to securities trading, including insider trading, market manipulation, or fraudulent securities practices.”
Legal Analysis
Elements to Prove:
- Fraud in securities trading.
- Insider trading or market manipulation.
- Intent to deceive.
- Financial gain from fraud.
Potential Defenses:
- No securities fraud.
- Legitimate trading.
- Authorized activities.
Practical Examples
What Constitutes the Offense:
Insider trading, market manipulation, fake securities, fraudulent trading.
What Doesn't Constitute:
Legitimate trading, authorized securities, or lawful market activities.
Punishment
Imprisonment up to 7 years, and Fine