The Securities and Futures Commission under the Financial Services Commission (FSC) decided to pay a reward of 25 million won to a whistleblower who reported unfair trading in the capital market.
The commission said it approved the reward payment plan at its 20th meeting held on the 12th. The whistleblower was said to have described in detail circumstances indicating the suspect used improper means or a scheme and submitted supporting evidence.
Based on the report, the Financial Supervisory Service launched a planned investigation, and, according to the findings, the commission notified investigative authorities of one suspect on charges of violating the ban on unfair trading.
So far this year, the commission has reviewed and approved a total of four reward payment plans, with the average amount paid tallied at about 78.9 million won. That is 2.4 times higher than last year’s average payout of about 32.4 million won (six cases).
The Financial Services Commission (FSC) said, “We are closely consulting with the National Assembly and the Ministry of Economy and Finance to expand the scale of reward payments next year,” and urged, “Please report to the Financial Services Commission (FSC) or the Financial Supervisory Service (FSS) any materials or information that include evidence and specific facts related to unfair trading such as stock price manipulation.
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