Joint Response Team on Stock Price Manipulation 1years, serious unfair 10cases uncovered
The Joint Response Team, 1years after its launch, uncovered serious unfair-trading 10cases, and the Financial Services Commission announced that it would pursue legislation to strengthen investigative and sanctioning powers, including establishing the right to request communications records and expanding the scope of principal confiscation, on 7month 8day. The government said it would introduce AI to monitor YouTube and social media to improve the detection of unfair trading.
The Joint Response Team uncovered serious unfair-trading 1cases 10years after its launch, and the Financial Services Commission announced on 7month 8day that it would expand investigative authority and the scope of sanctions through legislation. The measure is intended to prevent the destruction of evidence and identify the channels through which unfair trading is transmitted.
A meeting to review operational performance was held at the Korea Exchange, chaired by Financial Services Commission Chairman Lee Eo-won. The meeting disclosed measures to strengthen investigations and sanctions, as well as the schedule for implementation.
The key initiatives are establishing the right to request communications records, expanding the scope of principal confiscation, and introducing artificial intelligence-based market surveillance. The government explained that the right to request communications records would help prevent the destruction of evidence and quickly identify the channels through which cases spread.
The scope of principal forfeiture has been expanded beyond the existing range to include the use of undisclosed information and unfair trading, and these measures have been included in the targets for legislative amendment. The Financial Services Commission said it would 3pursue the relevant legal amendments in the quarter.
AI-based market surveillance is designed to strengthen the detection of false and exaggerated information circulated on YouTube and social media, as well as patterns of abnormal trading. The Financial Services Commission said it would introduce this technology to increase the sensitivity of detecting unfair trading.
The joint response team, since its launch, has compiled cases detected over 1years and disclosed the circumstances of serious cases 10, while the government presented the principles of “swift detection, rigorous investigation, and zero-tolerance sanctions.”
The Financial Services Commission’s announcement includes measures to restore market order by expanding investigative authority and strengthening sanctions. The specific timing and scope of the legal amendments are 3expected to be finalized during discussions on legal amendments in the quarter.