Swiss watchdog finds Blackstone Resources manipulated markets

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FILE PHOTO: The logo of Swiss Financial Market Supervisory Authority FINMA is seen outside their headquarters in Bern

ZURICH (Reuters) – The Swiss Financial Market Supervisory Authority (FINMA) has determined violation of market conduct rules at Blackstone Resources AG and one of its directors, the watchdog said on Tuesday.

“It found market manipulation and violations of disclosure obligations,” it said in a statement, adding that Blackstone Resources and one of its directors had inadmissibly influenced the company’s share price repeatedly since its listing. FINMA’s ruling was still subject to appeal.

(Reporting by Michael Shields, editing by Silke Koltrowitz)