ERDEM-NEWSLETTER-2018-metin

192 NEWSLETTER 2018 • Orders and transactions taking place in a very short period of time, and causing a change in the share price in the reverse direction; • Performing transactions intensively at the beginning or at the end of the session; • Issuing orders to change the pending best buy and sell price, and the cancellation of these orders before they are executed; • Executing orders and transactions through different accounts and different investment firms, significant changes in the security price during the execution of those transactions, not having financial strength that may explain the transactions carried out in the accounts of the account holders, and the lack of knowledge and experience of the transactions on se- curities that explain the transactions; • Giving mutual buy and sell orders from the highest or lowest price continuously via different investment firms and diffe- rent accounts, and matching these orders between colluding persons in the session, as well as executing transactions as a result of matching orders, when these orders and transactions have significant volume with respect to the total transacti- ons 2 . Information-based Manipulation According to Article 107/2 of the CML, those who give false, wrong, or deceptive information, spread rumors, give notices, make comments, prepare reports or distribute them in order to affect the prices of capital market instruments, their values, or the decisions of investors, and benefit from it, shall be sentenced to imprisonment from two years up to five years, and shall be punished with a judicial fine up to five thousand days. In information-based manipulation, investors are given incorrect or misleading information. The offense also arises through intentional non-compliance with the public disclosure obligation. Groundless 2 Ibid, p.16 ff.