Unlawful Marking the Close Law and Legal Definition

Unlawful marking the close takes place when an individual engages in a series of late day transactions that create actual or apparent active trading in a security, or raise or depress the price of such security, for the purpose of inducing the purchase or sale of such security by others. [SEC v. Kwak, 2008 U.S. Dist. LEXIS 10201 (D. Conn. Feb. 12, 2008)].