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  • CRA-13 CRA-13 Prevention of Market Abuse and Manipulation

    • CRA-13.1 CRA-13.1 General Requirements

      • CRA-13.1.1

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        Deleted: April 2023
        Added: April 2019

      • CBB’s Approach to Market Abuse and Manipulation

        • CRA-13.1.1A

          The risk of market abuse and manipulation, such as, but not limited to, price manipulation, inside trading, price rigging, non-disclosure of material information, disclosure of false or misleading information and other similar actions poses a significant challenge to establish fair, transparent and orderly market in crypto-assets.

          Added: April 2023

        • CRA-13.1.1B

          Licensees and issuers of digital tokens must comply with the same set of requirements contained in Module Prohibition of Market Abuse and Manipulation (Module MAM) including adherence to:

          (a) Accepted market practices;
          (b) Prohibited conduct in possession of insider information;
          (c) Prohibited market conduct; and
          (d) Penalty for contravention
          Added: April 2023

      • Policies for Prevention of Market Abuse and Manipulation

        • CRA-13.1.1C

          Licensees must establish and implement written policies and controls for the proper surveillance of its trading platform in order to identify, prevent and report any manipulative or abusive trading activities. The policies and controls should, at a minimum, cover the following:

          (a) Preventing any potential market abuse or manipulation;
          (b) monitoring activity on its platform;
          (c) identifying anomalies; and
          (d) taking immediate steps to restrict or suspend trading upon discovery of manipulative or abusive activities (for example, temporarily suspending accounts).
          Added: April 2023

        • CRA-13.1.1D

          A licensee must notify the CBB as soon as practicable of any market manipulative or abusive activities on its trading platform (whether potential, attempted or conducted). The licensee must provide the CBB with full assistance in connection with such activities and implement appropriate remedial measures.

          Added: April 2023

      • Market Surveillance System

        • CRA-13.1.1E

          In addition to internal market surveillance policies and controls referred to in Paragraph CRA-13.1.1C above, a licensee must adopt an effective market surveillance system provided by a reputable and independent provider to identify, monitor, detect and prevent any market manipulative or abusive activities on its platform, and provide access to this system to the CBB to perform its own surveillance functions when required by the CBB.

          Added: April 2023

        • CRA-13.1.1F

          A licensee must review the effectiveness of the market surveillance system provided by the independent provider on a regular basis, at least annually, and make enhancements as soon as practicable to ensure that market manipulative or abusive activities are properly identified. The review report should be submitted to the CBB upon request.

          Added: April 2023

        • CRA-13.1.2

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        • CRA-13.1.3

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        • CRA-13.1.4

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    • CRA-13.2 CRA-13.2 [This Section was deleted in April 2023]

      • CRA-13.2.1

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      • CRA-13.2.2

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      • CRA-13.2.3

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      • CRA-13.2.4

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      • CRA-13.2.5

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      • CRA-13.2.6

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      • CRA-13.2.7

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      • CRA-13.2.8

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      • CRA-13.2.9

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      • CRA-13.2.10

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      • CRA-13.2.11

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      • CRA-13.2.12

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    • CRA-13.3 CRA-13.3 [This Section was deleted in April 2023]

      • CRA-13.3.1

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      • CRA-13.3.2

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      • CRA-13.3.3

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      • CRA-13.3.4

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    • CRA-13.4 CRA-13.4 [This Section was deleted in April 2023]

      • CRA-13.4.1

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      • CRA-13.4.2

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      • CRA-13.4.3

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      • CRA-13.4.4

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      • CRA-13.4.5

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    • CRA-13.5 CRA-13.5 [This Section was deleted in April 2023]

      • CRA-13.5.1

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      • CRA-13.5.2

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      • CRA-13.5.3

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      • CRA-13.5.4

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    • CRA-13.6 CRA-13.6 [This Section was deleted in April 2022]

      • CRA-13.6.1

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      • CRA-13.6.2

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      • CRA-13.6.3

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    • CRA-13.7 CRA-13.7 [This Section was deleted in April 2023]

      • CRA-13.7.1

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      • CRA-13.7.2

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    • CRA-13.8 CRA-13.8 [This Section was deleted in April 2023]

      • CRA-13.8.1

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    • CRA-13.9 CRA-13.9 [This Section was deleted in April 2023]

      • CRA-13.9.1

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      • CRA-13.9.2

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