The peak was very high because it was from a lower base.
I reckon it was right for the regulator to halt the trading of the incorrect Zoom. The regulator is there to fix incorrectness in the markets.
The FCA specifically has the “primary” objective to “ensure that the relevant markets function well”. The operational objectives are:
- To secure an appropriate degree of protection for consumers.
- To protect and enhance the integrity of the UK financial system.
- To promote effective competition in the interests of consumers.
I’m not sure about the SEC, but maybe they have something around protecting consumers and integrity of the financial system, based on which they would have taken action.
Only my 2p.