Article 67 Unusual Market Activity

The Agency's Capital Markets Supervision (CMS) Directorate is primarily responsible for the day-to-day relations between listed companies, the Agency and the Exchange.

When unusual market activity occurs, it must be reported to the Capital Markets Supervision Directorate. In many cases, by checking with market surveillance, the directorate will try to trace the reason for the action to a specific cause, such as recently disclosed information, recommendations by advisory services, or rumours. Market surveillance may also check with brokerage firms as to the source and reasons for the activity stemming from their particular firms. (This latter information, it should be noted, must remain confidential to the Agency). If no explanation of the unusual activity is revealed, the Directorate may call officials of the issuer to determine whether the cause of the action is known to them. If the action appears to be attributable to a rumour or report, or to material information that has not been publicly disseminated, the issuer may be requested to take the appropriate corrective action, and it may be advisable to halt trading until such action has been taken.

Listed companies are urged to contact the Directorate as early as possible whenever problems are encountered or anticipated in interpreting or applying the Agency's disclosure policies. By means of such advance consultation, effective liaison between issuers, the Agency and the Exchange can be maintained.