Stock price manipulation investigation shortened by up to half... 'Joint Response Team' launched

The typical investigation timeframe for cases of unfair trading in the stock market is anticipated to be reduced from the usual 12-15 months to approximately 6-7 months.

This development follows President Lee Jae-myung's recent directive aimed at eliminating unfair trading practices, which led to the formation of a joint response team by financial authorities.

During a briefing conducted at the Korea Exchange in Yeouido, Seoul, on the morning of the 9th, Lee Yoon-soo, a standing member of the Securities and Futures Commission within the Financial Services Commission, announced plans to establish a joint task force. This team will bring together representatives from the Financial Services Commission, the Financial Supervisory Service, and the Korea Exchange, all operating within the exchange.

.

The joint response team will function without direct sanctioning powers, focusing primarily on improving the Korea Exchange's capabilities to expedite case processing. Previously, the stages of detection, investigation, and sanction were spread across different institutions, leading to delays. The new plan aims to streamline procedures through joint operations, thereby creating a more efficient system.

An official from the financial authority stated that accelerating the investigation of unfair trading will play a crucial role in protecting investors and restoring market trust. The official also noted that this approach will enable a more robust and timely response to significant incidents such as stock price manipulation.