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

The timeframe for probing unfair trading activities in the stock market is projected to decrease from the previous average of 12 to 15 months to approximately 6 to 7 months.

This adjustment comes after President Lee Jae-myung issued an order a month ago to "eradicate unfair trading," leading to the formation of the 'Stock Price Manipulation Elimination Joint Response Team' by the financial authorities.

During a briefing at the Korea Exchange in Yeouido, Seoul, on the morning of the 9th, Lee Yoon-soo, a standing member of the Securities and Futures Commission of the Financial Services Commission, announced, "We intend to run a joint response team where the Financial Services Commission, Financial Supervisory Service, and the Korea Exchange will collaborate in a single location within the exchange."

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Although the joint response team does not possess sanctioning authority, its primary objective is to enhance the capabilities managed by the Korea Exchange to expedite the processing of cases. Previously, the stages of detection, investigation, and sanction were fragmented across various institutions, leading to delays. The new plan seeks to eliminate redundant procedures through joint operations and establish a more efficient system.

A representative from the financial authorities stated that accelerating the investigation of unfair trading is expected to play a substantial role in protecting investors and restoring market trust. The official further noted that it will particularly enable a more robust and timely response to significant incidents such as stock price manipulation.