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n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - An analysis of market manipulation under the Securities Services Act 36 of 2004 (part 2)
Section 76(1) of the SSA prohibits disclosure-based market manipulation as follows :
'76 (1) No person may, directly or indirectly, make or publish in respect of listed securities, or in respect of the past or future performance of a public company -
(a) any statement, promise or forecast which is, at the time and in the light of the circumstances in which it is made, false or misleading or deceptive in respect of any material fact and which the person knows, or ought reasonably to know, is false, misleading or deceptive; or
(b) any statement, promise or forecast which is, by reason of the omission of a material fact, rendered false, misleading or deceptive and which the person knows, or ought reasonably to know, is rendered false, misleading or deceptive by reason of the omission of that fact.'
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