FSS "Rumors of Securities Firms' Bankruptcy Spread... Please Report" Joint Crackdown Team Operated

[Asia Economy Reporter Ji Yeon-jin] The Financial Supervisory Service (FSS) announced on the 20th that it is operating a joint rumor control team and conducting intensive monitoring as baseless rumors about securities firms and construction companies going bankrupt amid recent tightening in the money market have been spreading.

The joint rumor control team plans to focus on cracking down on acts of creating and spreading unfounded credit and liquidity-related crisis rumors about specific companies, as well as generating and disseminating false rumors related to the corporate bond and asset-backed commercial paper (ABCP, promissory notes, etc.) bond markets.

The FSS stated, "We will strengthen crackdowns on the dissemination of false information such as malicious rumors, intensify investigations into unfair trading practices, and take strict measures against acts of deliberately creating and spreading rumors to seek private gains by exploiting the sense of crisis," adding, "if market disruption or fraudulent unfair trading suspicions using malicious rumors are detected, we will promptly refer the cases to investigative authorities."

Additionally, investors were advised to be cautious in investing, as indiscriminate investments based on unverified rumors or relying solely on hearsay without confirming specific facts could lead to significant losses. The FSS urged, "investors who come across baseless malicious rumors or clues of unfair trading should immediately report them to the Financial Supervisory Service or the Korea Exchange."

This content was produced with the assistance of AI translation services.