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

Unfair trading probes will now take 6-7 months instead of 12-15 months.

President Lee Jae-myung's recent order to eliminate unfair trading led to the formation of a financial authorities task force.

At a Korea Exchange briefing in Seoul on the 9th, Lee Yoon-soo of the Securities and Futures Commission said a joint team will operate within the exchange, pooling resources from the Financial Services Commission, Financial Supervisory Service, and Korea Exchange.

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The joint team lacks sanctioning power but aims to streamline processes at the Korea Exchange, enhancing case handling speed. Previously, stages were spread across institutions, causing delays. Joint operations now aim to cut redundant steps for a quicker system.

An official noted that faster unfair trading investigations will boost investor protection and market trust, enabling quicker responses to major issues like stock manipulation.