The financial authorities announced on November 2 that they will award a reward of 93.7 million won to a whistleblower who reported unfair trading activities in the capital market.
The Securities and Futures Commission decided to grant the reward to the whistleblower who reported unfair trading activities in the capital market at its 19th meeting held on October 29.
The whistleblower provided a detailed account of the illegal activities, stating that the suspects used fraudulent means, plans, and techniques to artificially raise stock prices. Relevant evidence, such as recorded transcripts, was also submitted.
Based on the report, the Financial Supervisory Service determined that there was a likelihood of unfair trading and launched a special investigation. As a result of the investigation, six suspects were referred to the prosecution for violating the prohibition on unfair trading activities and the obligation to report large shareholdings.
An official from the Financial Services Commission stated, "In order to ensure the soundness and trustworthiness of the capital market, it is important to detect and block illegal activities at an early stage," adding, "For this, active investigations and sanctions, as well as voluntary reports from market participants, are essential."
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