286 caught for unfair trade practices in last three years

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286 caught for unfair trade practices in last three years

The Financial Supervisory Service (FSS) said Monday that 286 executives and employees of listed companies have been penalized over the last three years for engaging in unfair trade practices on the stock market.

Executives accounted for 205 of the total number, around 2.5 times the number of regular employees engaged in unfair trade practices. By market, the secondary Kosdaq accounted for 202 people, or 70.6 percent, followed by the benchmark Kospi with 63 and the Konex with 21.

The number of employees engaged in such practices remained similar over the years, at 95 in 2016, 99 in 2017 and 92 in 2018.

As the number of those involved in unfair practices has remained steady over recent years, the regulator said it will expand its educational efforts to prevent more listed companies and employees from breaking trading rules.

The FSS started visiting individual companies last July and educated against engaging in illegal trading practices. It hosted educational sessions at 26 listed companies and conducted three regional seminars on the topic last year.

The regulator said it will visit 12 companies to provide further education starting Wednesday.

It is also hosting additional sessions for Konex companies and those preparing for an initial public offering.

By Ko Jun-tae
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