S Korea – FSC Violation of Shareholding Reporting Duty

S Korea – FSC Violation of Shareholding Reporting Duty

On 7 December 2023, SK FSC proposed revisions re capital markets investigation.

  • SK FSC proposed revisions to the Regulations on the capital markets investigation.

Revisions

  • Where a reporting duty such as on substantial shareholding is intentionally violated, resulting in material consequences, a penalty surcharge will be imposed in principle, as in the case of violating the disclosure duty or illegal short selling.
  • If necessary, coupled with reporting to or notifying an investigative agency.

Consultation Period

  • Comments shall be submitted by 27 December 2023.