BUSINESS

Nearly 300 workers caught for unfair stock trading over 3 yrs: data

By Yonhap
  • Published : Jul 18, 2018 - 15:31
  • Updated : Jul 18, 2018 - 15:38

A total of 281 officials of listed companies have been caught for unfair stock trading over the past three years, data by the state watchdog showed Wednesday.

Between 2015 and 2017, the Financial Supervisory Service caught 184 executives and 97 employees of the listed firms for illegal acts involving stock trading.

(Yonhap)

Of them, 30.6 percent were from companies listed on the main KOSPI bourse (43 executives and 25 employees), while 69.4 percent worked for KOSDAQ-listed firms (129 executives and 66 employees), according to the data.

By types of violation, 117 people, or the largest number, were found to have used classified information, followed by 100 workers caught for failing to comply with due duties of reporting their stock possessions, 81 for violating rules on reporting profits on their short-term trading, 28 for unlawful trading and 22 for market price manipulation, the FSS said, adding some of the officials faced multiple charges.

The FSS did not elaborate on whether it has taken any measures against the officials over their illegal acts.

To raise their awareness and prevent illegalities, the watchdog has held briefing sessions for listed firms on the issue and plans to rev up such efforts, according to its officials. (Yonhap)



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