Last Year, 5 Cases of Capital Market Unfair Trading Reports Totaled 124 Million Won
[Asia Economy Reporter Park Jihwan] The Financial Supervisory Service (FSS) announced on the 8th that it paid a total of 124 million KRW in rewards to five whistleblowers who helped investigate and take action against unfair trading practices in the capital market last year.
The recipients of the rewards provided specific violations and evidence related to allegations such as market manipulation, insider trading, and fraudulent transactions, contributing to the FSS's detection of unfair trading activities.
The number of reward payments last year increased by three cases compared to the previous year, with the total amount rising by 85.8 million KRW. The highest reward amount paid last year was 32.4 million KRW.
Over the past five years, the FSS has paid rewards totaling 432.62 million KRW for 20 cases reported regarding unfair trading in the capital market. Fraudulent transactions accounted for the largest share with nine cases and 179.75 million KRW, followed by market manipulation with six cases and 174.77 million KRW, and insider trading with four cases and 68.8 million KRW.
To be eligible for a reward, whistleblowers must present specific violations and evidence related to allegations such as market manipulation. It is also necessary to report detailed information such as the location and time related to a specific individual's unfair trading activities.
Rewards are classified into 10 grades based on the significance of the unfair trading act. The amount is calculated by multiplying the contribution rate by the standard amount for each grade, which ranges from 2 billion KRW to 5 million KRW. Publicly available information such as stock price fluctuations, disclosure materials, and media reports are excluded.
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An FSS official stated, "The patterns of unfair trading in the capital market are becoming more sophisticated and complex," adding, "We will actively incorporate reports of unfair trading received through various channels such as the internet, telephone, and mail into our investigation work on unfair trading in the capital market."
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