President Lee Jae-myung on the 14th called the policy to scrap the cap on stock-manipulation tipster rewards "a way to get rich while making a good country."
On the same day, Lee reposted Lee Eog-weon's post on X (formerly Twitter) and stated accordingly.
At first, the Chairperson posted a video introducing the government's policy to scrap the cap on rewards for reporting stock manipulation. The video, produced by employees of the Financial Services Commission, opens with a scene of an office worker who received a reward for reporting stock manipulation stepping out of a supercar. It then explains how to report and how rewards are paid.
The Financial Services Commission (FSC) on Feb. 25 said it would abolish the cap on rewards for reporting internal wrongdoing in capital market crimes such as stock manipulation and accounting fraud to encourage whistleblowing. It also said it would pay up to 30% of illicit gains and penalty surcharge uncovered and recovered through actions against stock manipulation, among others, as rewards.
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