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

The duration for probing cases of unfair trading in the stock market is set to decrease from the current 12-15 months to approximately 6-7 months.

This adjustment arises from President Lee Jae-myung's recent directive to "eliminate unfair trading," which spurred financial authorities to form the 'Joint Task Force for Eradicating Stock Price Manipulation.'

During a briefing at the Korea Exchange in Yeouido, Seoul, on the morning of the 9th, Lee Yoon-soo, a permanent member of the Securities and Futures Commission under the Financial Services Commission, announced, "We intend to establish a joint response team where the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange will collaborate within a single space at the exchange."

.

Though the joint response team lacks the authority to impose sanctions, its primary goal is to optimize the processes handled by the Korea Exchange to hasten case resolutions. Previously, the detection, investigation, and sanction phases were spread across different organizations, leading to delays. By working together, the aim is to eliminate unnecessary steps and create a more efficient system.

According to a financial authority representative, expediting investigations of unfair trading is expected to play a crucial role in protecting investors and restoring trust in the market. The official further explained, "This approach, in particular, will allow for a more robust and quicker response to major incidents like stock price manipulation."