New Jersey Statutes 49:3-52.1. Prohibitions relative to securities
Terms Used In New Jersey Statutes 49:3-52.1
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
(1) quote a fictitious price with respect to a security;
(2) effect a transaction in a security which involves no change in the beneficial ownership of the security for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;
(3) enter an order for the purchase of a security with the knowledge that an order of substantially the same size and at substantially the same time and price for the sale of the security has been, or will be, entered by or for the same, or affiliated, person for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;
(4) enter an order for the sale of a security with knowledge that an order of substantially the same size and at substantially the same time and price for the purchase of the security has been, or will be, entered by or for the same, or affiliated, person for the purposes of creating a false or misleading appearance of active trading in a security or with respect to the market for the security; or
(5) employ any other deceptive or fraudulent device, scheme, or artifice to manipulate the market in a security.
(b) A transaction effected in compliance with, or conduct that does not violate, the applicable provisions of the “Securities Exchange Act of 1934” and the rules and regulations of the Securities and Exchange Commission thereunder is not a violation of subsection (a) of this section.
L.1997,c.276,s.5.