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

The anticipated duration for investigating unfair trading practices within the stock market is set to decrease from the current average of 12 to 15 months to approximately 6 to 7 months.

This development is a direct response to President Lee Jae-myung's mandate issued a month ago, emphasizing the need to "eliminate unfair trading," which led to the formation of the financial authorities’ joint response initiative.

During a briefing held on the morning of the 9th at the Korea Exchange in Yeouido, Seoul, Lee Yoon-soo, a standing member of the Securities and Futures Commission within the Financial Services Commission, declared, "We intend to establish a joint response team in which the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange will converge in a single location within the exchange."

.

The newly formed response team does not possess independent sanctioning powers; however, its primary objective is to refine operational efficiencies at the Korea Exchange to expedite case resolution. Previously, the processes of detection, investigation, and sanctioning were fragmented across various institutions, resulting in delays. The current strategy aims to eliminate redundant procedures through collaborative operations and to set up a swift system.

A representative from the financial authority commented, "Expediting the investigation process for unfair trading is expected to significantly enhance investor protection and contribute to market trust recovery," further noting, "Particularly, this will enable a more robust and expedient response to critical incidents such as stock price manipulation."