- SK FSC issued plans to disclose identity of entities committing unfair trading practices.
- For those who violate capital market regulations such as restoration of short selling and prohibition of market disturbances, fines and penalties will be imposed.
- If an investigation led by financial authorities results in a penalty surcharge or an administrative fine, the identity (corporate name, etc.) of the violator will be unveiled.
- Although violators are mostly corporate entities, sometimes individuals become subject to penalties when they commit unfair trading practices like disturbing market order.
- If unfair trading activities in capital markets under investigation led by financial authorities are subject to criminal punishment, violator identity will not be disclosed.
- Even if a criminal complaint is initiated or notified, it will be kept private in accordance with unfair trade practices subject to criminal penalties.
- Even in cases where authorities impose a penalty surcharge or an administrative fine but also bring a criminal charge or investigative authorities notified, kept private.
- With cases being charged or notified to investigative authorities, FSC plans to review ways to make violators' identity public after consultation with investigative authorities.
- Disclosure of targets for action against violations of short selling regulations is expected to reduce the incentive for illegal activities in the capital market.
- This measure shall apply to the violators receiving penalties at the SK FSC 22nd meeting to be held in December 2022 and posted on the SK FSC website during February 2023.