Paving Way for Class Action

Home > Business > Finance

print dictionary print

Paving Way for Class Action

The government and industry officials are preparing for the introduction of class action suits in the securities industry.

Officials from the Ministry of Finance and Economy and the Federation of Korean Industries held a closed meeting Saturday where they reportedly discussed bringing the system online gradually As a result, the chances of the law being passed in the regular session of the National Assembly later this year are higher.

"The two sides held talks on the range of investors that will be effected by the rulings," a ministry official said. "The economic circle didn't oppose the introduction of the system." Class suits will be allowed next year, according to the govenment timetable.
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)