Jollie distorts the market price, 这违反了公司的相关规定？
问题如下图：
选项：
A. 
B. 
C. 
解释：
发亮_品职助教 · 2019年06月11日
Jollie的两次交易没有违反任何规定。
因为本身Jollie交易的这支Bond，就是流动性较差、交易不活跃的Bond：
before executing her transaction that the bond is thinly traded；
所以，如果要调仓换股，交易该债券，一定会影响市场价格的，市场价格会发生较大的变动。
这种正常的交易，不算做操纵市场；只有目的是Mislead markets，目的是故意诱导市场自己从中获利的行为，属于违反准则，是Market manipulation。
但是从文中题干信息看到，Jollie的这次交易属于正常的调整换股，没有Manipulate市场的说法，因此不违反准则。
同时公司的章程说的也很明白，如果目的是Mislead market的交易，就需要避免这种Distort债券价格的交易行为：
must refrain from making transactions that distort security prices or volume with the intent to mislead market participants
NO.PZ201604030300004302 问题如下 2. Are Jollie’s 8 April tra of the seconbonanMahsuFinancial’s polion market manipulation, respectively, consistent with CFA Institute Stanr on market manipulation? A.Both Jollie’s 8 April tra of the seconbonanMahsuFinancial’s polion market manipulation are consistent with CFA Institute Stanr. B.Jollie’s 8 April tra of the seconbonis inconsistent anMahsuFinancial’s polion market manipulation is consistent with CFA Institute Stanr. C.Jollie’s 8 April tra of the seconbonis consistent anMahsuFinancial’s polion market manipulation is inconsistent with CFA Institute Stanr. A is correct.Jollie’s transaction is a legitimate market orr in a thinly-trasecurity, anMahsuFinancial’s polistatement is consistent with CFA Institute Stanr relating to the Integrity of CapitMarkets. 市场操纵，如果只是看主观意愿进行判定，那是不是所有人都可以说自己是无意的，扭曲市场价格都是为了做市？而且我觉得，主人公明明可以有办法，例如分批下单、隐藏下单等等方式，从而减小甚至消除对市场价格信号的扭曲，但主人公没有这么做，证监会查起来，不会因为这支股票交易量小、主人公无意中一下子下了大体量的单，而不对主人公进行处罚
Jollie’s 8 April tra of the seconbonis inconsistent anMahsuFinancial’s polion market manipulation is consistent with CFA Institute Stanr. Jollie’s 8 April tra of the seconbonis consistent anMahsuFinancial’s polion market manipulation is inconsistent with CFA Institute Stanr. A is correct. Jollie’s transaction is a legitimate market orr in a thinly-trasecurity, anMahsuFinancial’s polistatement is consistent with CFA Institute Stanr relating to the Integrity of CapitMarkets.公司章程都说了不要交易影响到市场价格，但是seconbon易影响到市场价格了呀，那就是违反呀