I contacted ASIC about a fraudulent sell order placed every day this week for ALK Alkane at a price that wont be reached in our lifetime, well mine anyway. Here is what i wrote (on Tuesday), and their generic response. They have allowed this order to continue all week unchecked, even after being made aware of it. It does get purged each nite, but that's not the point...it shouldn't be accepted in the first place, Comsec dont allow orders more than 60% from current price with only rare exceptions, and certainly not like this one. I have saved all my emails to ASX and ASIC for a future date, when they get hit with an inevitable class action by thousands of burnt shareholders in ASX listed stocks that have been allowed to be manipulated by bots, fake orders, fake U bids (TLS) wash trades between instos, all right under their noses. The order will be there till 6.40pm when it gets purged, look out for it again on Monday.
Attention: ASIC SURVEILLANCE
Hi,
Please be advised that every day this week, a sell order of 871 shares has been placed, to sell at $100.00 when the price has hovered between 98 cents and $1.04. It is purged each night at 6.40pm and re-appears the next day, so it is not a typo or "fat finger" This order has no intention or hope of being executed any time this decade, it is there solely for manipulation purposes. I expect ASIC as market regulators to take action against the institution placing this order on a daily basis.
I have forwarded your email to the Misconduct and Breach Reporting area for action and response.
The reference number for your enquiry is 55XXXXXX
Due to the unique nature of each enquiry ASIC is not able to provide interpretations or recommendations specific to some enquiries or circumstances. If you require further information please seek independent advice through an ASIC registered agent, your accountant or solicitor.
Yours sincerely
Susan Morgan Customer Service Consultant, Enquiries Stakeholder Services 1300 300 630
