Joint Response Team launched 1 years, unfair trading 10 cases detected; expansion of principal forfeiture
The Joint Response Team detected serious unfair trading 1 years after its launch and announced that it would include the use of undisclosed information and fraudulent trading among the targets of principal forfeiture. Authorities plan to pursue legal amendments in 10 quarter to establish the right to request telecommunications records.3},
The Joint Response Team detected serious unfair trading 1 years after its launch, and authorities said they would expand the targets of principal forfeiture to include the use of undisclosed information and fraudulent trading. The measure will simultaneously pursue the recovery of investor losses and the expansion of the scope of investigations.10},
The detected cases were identified mainly among transactions where signs of stock-price manipulation had been observed. The Joint Response Team disclosed that it had tracked related suspicious transactions and the flow of funds.
Authorities formalized the expansion of the scope of principal forfeiture, newly including cases involving the use of undisclosed information and fraudulent trading among the targets of principal forfeiture.
The Joint Response Team 3said it plans to pursue legal amendments in the quarter to establish the authority to request telecommunications data. If the law is amended, investigators will be able to use telecommunications data at the investigation stage to track suspicious accounts more quickly.
Lee Eok-won expressed his position that investigations and sanctions should be strengthened. The Joint Response Team announced that it would continue the investigation together with the relevant agencies and that further detections were possible.
The Joint Response Team said it would continue cracking down on unfair trading practices in the future. This announcement also disclosed the achievements since its launch 1year and plans to strengthen legal tools going forward.