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

The duration required to investigate cases of unfair trading in the stock market is anticipated to decrease from the current average of 12 to 15 months down to approximately 6 to 7 months.

This change is a result of President Lee Jae-myung's directive issued a month ago to eliminate unfair trading practices, leading financial authorities to initiate the ‘Joint Response Team to Stop Stock Price Manipulation.’

During a briefing 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 of the Financial Services Commission, announced, "We intend to set up a joint response team where the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange will collaborate in a shared space within the exchange."

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The joint response team does not function as an independent entity with the power to impose penalties. Instead, its primary purpose is to improve the efficiency of processes managed by the Korea Exchange, expediting the handling of cases. Usually, the stages of detection, investigation, and sanctioning were spread across different institutions, which led to delays. The new plan aims to streamline these processes through combined efforts, establishing a faster operational system.

An official from the financial authority remarked, "By hastening the investigation into unfair trading, we can significantly enhance the protection of investors and restore trust in the market," and further noted, "Particularly, this will allow for a more robust and swift response to critical issues such as stock price manipulation."