Financial Services Commission, FSC, Exchange, and Southern District Prosecutors' Office "Eradicating Unfair Trading in the Capital Market"

The Financial Services Commission, Financial Supervisory Service, Korea Exchange, and Seoul Southern District Prosecutors' Office have expressed their determination to eradicate unfair trading in the capital market.

[Image source=Yonhap News]

On the 23rd, these institutions held a 'Joint Forum of Related Agencies for the Eradication of Unfair Trading' at the Korea Exchange Conference Hall in Yeouido, Seoul, with experts from academia and research institutions.

At the event, the heads of the four institutions agreed to significantly strengthen the inter-agency cooperation system for detecting and responding to unfair trading in the capital market. They also expressed the government's firm and strong will to root out unfair trading in the capital market.

Kim Ju-hyun, Chairman of the Financial Services Commission, emphasized that "unfair trading in the capital market is a serious crime that robs honest ordinary investors and the future of young people," and stated that they plan to focus on eradicating unfair trading. The FSC also plans to finalize and announce improvement measures for the Contract for Difference (CFD) system.

Lee Bok-hyun, Governor of the Financial Supervisory Service, said that establishing market order is of utmost importance and announced plans to strengthen preventive market surveillance functions, improve work efficiency through reorganization of investigative units, and enhance cooperation with related agencies.

Son Byung-doo, Chairman of the Korea Exchange, explained, "We will do our best in all efforts including actively supporting investigations and inquiries by related agencies, advancing market surveillance standards and psychological techniques, and expanding information used for market surveillance to build a monitoring system that can respond to the market environment." Yang Seok-jo, Prosecutor at the Seoul Southern District Prosecutors' Office, stated, "We will strive for systematic information sharing among related agencies, establish a rapid response system, and do our best in strict law enforcement and tracking and recovering illegal profits."

On this day, the FSC made a presentation on 'Measures to Diversify Sanctions for Unfair Trading in the Capital Market' and explained that they will actively prepare various administrative sanctions to enhance deterrence, such as restricting capital market transactions and limiting the appointment of executives of listed companies for unfair trading offenders.

The Financial Supervisory Service and Korea Exchange gave presentations on 'Measures to Strengthen Early Detection of Unfair Trading' and 'Recent Korea Exchange Responses to Stock Price Manipulation and Future Improvement Plans.' Additionally, the Seoul Southern District Prosecutors' Office presented on 'Recent Status of Unfair Trading and Judicial Response Measures.'

The FSC, FSS, Korea Exchange, and Seoul Southern District Prosecutors' Office agreed through the discussions to devote all possible capabilities to firmly establish a fair and trustworthy capital market foundation, and decided to actively consider improving the unfair trading response system by broadly collecting opinions from academia and industry experts.

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