marketwatch TECHNICAL UPDATE (TT Sep06 p8-9)

Market management exercises
Certain market management activities may appear dubious and potentially abusive practices banned by the Financial Services Authority (see Box 1). However, stabilisation or the buying back of recently issued securities for the purposes of supporting the price is permitted for a period after a new issue. If this is to occur, it must be disclosed before the opening of the offer period along with details of the parameters the manager is to work under.