Manipulative behaviours related to the employment of fictitious devices or any other form of deception or contrivance
Without prejudice to the examples of market manipulation set out in Regulation 2 and for the purposes of applying paragraph (b) of the definition of "market manipulation" in that Regulation, the non-exhaustive signals set out below, which should not necessarily be deemed in themselves to constitute market manipulation, are taken into account when transactions or orders to trade are examined by market participants and the Bank:
(a) whether orders to trade given or transactions undertaken by persons are preceded or followed by dissemination of false or misleading information by the same persons or persons linked to them, and
(b) whether orders to trade are given or transactions are undertaken by persons before or after the same persons or persons linked to them produce or disseminate research or investment recommendations which are erroneous or biased