Securities and Futures Commission accuses listed company representative of using inside information...purchasing stocks using undisclosed information = South Korea

The Securities and Futures Commission, which is under the Korean Financial Services Commission, held its 5th regular meeting on the 13th and accused Mr. A, the representative director of a listed company, of obtaining personal profit by using undisclosed important information (capital market violation of law
), it was decided to file charges with prosecutors. According to the committee, in the process of receiving an internal report from the company's accounting department, Mr.
We obtained undisclosed important information. Before the information was made public, Mr. A purchased company stocks using borrowed accounts in the names of his spouse and acquaintances, earning personal profits worth 140 million won (approximately 15.7 million yen).
It seems that he got it. Furthermore, in order to avoid insider trading regulations, Mr. A continued to use a borrowed account for several years, bought and sold stocks, and was obligated to report changes in stock ownership and return short-term trading gains.
It has also been pointed out that the The committee accused Mr. A of violating the Capital Markets Act, including using undisclosed important information and violating ownership status reporting obligations, while also
was returned to the company. Financial authorities state that ``If an officer or employee of a listed company uses non-public information learned in the course of his or her duties in securities transactions, it is a violation of the Capital Markets Act.
If an account is used in a borrowed name, it will be a violation of the Financial Real Name Act and may be subject to criminal penalties.
We need to pay particular attention to this."