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[Apha Biz=(Chicago) Reporter Paul Lee] Recently, a growing number of foreign financial authorities have been investigating local investors in overseas stocks for alleged unfair trading of securities.
According to the Financial Services Commission on the 6th, foreign financial authorities have recently asked South Korea for nine cases of cooperation in the use of undisclosed information. The number of requests for cooperation by foreign financial authorities, which stood at only two in 2020, three in 2021 and zero in 2022, has increased noticeably this year.
In particular, in the process of investigating unfair transactions related to their listed stocks, more and more foreign financial authorities are detecting abnormal trading of Korean investors' stocks and investigating them. The number of surveys, from eight in 2020, six in 2021 and five in 2022, stood at 12 as of last month, with 13 in Japan, 10 in the U.S., five in Hong Kong, two in China and one in Britain.
It also announced that foreigners are taking stern measures against unfair trade practices in Korea with the cooperation of foreign financial authorities. In addition, he added that he will continue to cooperate with foreign financial authorities to actively respond.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
