Over-the-counter market
An over-the-counter market is trading conducted off an exchange, through dealers. For small issuers it means fewer listing requirements and less disclosure, which is precisely the environment promotion schemes need.
Where does over-the-counter market come up?
This term is used in the following manipulation techniques, each explained in full on its own page.
Enforcement actions involving these techniques
| Action | Agency | Filed | Technique | Penalty | Status |
|---|---|---|---|---|---|
| SEC v. Michael J. Forster (pump and dump, 2026) | SEC | 2026-07-15 | Pump And Dump | — | judgment |
| SEBI v. Hanif Shekh and others (price and volume manipulation in five scrips, Mauria Udyog and others, 2026) | SEBI (India) | 2026-06-30 | Matched Orders , Pump And Dump +1 | — | judgment |
| SEC v. Geoffrey Allen Wall (pump and dump, 2026) | SEC | 2026-04-09 | Pump And Dump | — | judgment |
| SEC v. Mark A. Miller, Saeid Jaberian and Christopher J. Rajkaran (pump and dump, 2026) | SEC | 2026-01-27 | Pump And Dump | — | judgment |
| SEBI v. Paresh Nathalal Chauhan (Timbor Home bulk-SMS share scheme, remand order, 2025) | SEBI (India) | 2025-12-31 | Price Manipulation , Pump And Dump | — | judgment |