Financial Services Commission Announces Photo News

On July 30, the Securities and Futures Commission (SFC) Chairman Kwon Dae-young participated in the unveiling ceremony of a joint response team dedicated to tackling stock market manipulation. This team, a collaborative effort between the FSC, FSS, and KRX, aims to strengthen the initial response function of KRX’s market surveillance committee. During the event, Chairman Kwon emphasized the increasing importance of the capital market at an international level and the crucial need to eradicate illegal and unfair trading practices effectively.

Chairman Kwon highlighted the significance of removing previous barriers and divisions among the three organizations with the establishment of the joint response team. By doing so, the team can work together more cohesively and efficiently to combat market manipulation. Additionally, the financial authorities intend to improve cooperation with investigative bodies to facilitate swift and effective criminal investigations and proceedings.

The joint response team’s primary goal is to enhance market transparency and integrity by promptly addressing any signs of stock market manipulation. By pooling resources and expertise from the FSC, FSS, and KRX, the team will be better equipped to identify, investigate, and take action against individuals or entities engaging in unlawful trading activities. This collaborative effort signifies a unified front against market manipulation and reinforces the commitment to maintaining a fair and trustworthy financial environment.

The success of the joint response team relies on seamless coordination and communication among the participating organizations. By breaking down silos and streamlining processes, the team can act swiftly and decisively to address any suspicious activities in the stock market. Moreover, the removal of barriers between the FSC, FSS, and KRX demonstrates a commitment to working together towards a common goal of safeguarding the integrity of the financial system.

Chairman Kwon’s remarks underscore the commitment of the financial authorities to combatting market manipulation and ensuring a level playing field for all market participants. By creating a dedicated response team, the FSC, FSS, and KRX are taking proactive steps to address any threats to market integrity promptly and effectively. This collaborative effort reflects a shared responsibility to uphold ethical standards and protect investors’ interests in the capital market.