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금융위에 주가조작 수사권 부여

The nation's financial authorities on Thursday unveiled an extensive set of measures that will help them crack down on stock price manipulation.

This will give officials from the Financial Services Commission a special investigative power to track down stock market criminals.

Our Kim Yeon-ji has more.

Officials from the Financial Services Commission and the watchdog Financial Supervisory Service will be given the authority to investigate suspicious cases of stock price manipulation ... in the same manner as the police investigates them under the supervision of the prosecution.

This initiative is at the core of the government's new plans for protecting local stock markets and implementing more effective punishments for perpetrators of the illegal practice.

Under the new fast-track system, the FSC's Securities and Futures Commission will analyze data from the Korea Exchange... and if any suspicious activity is detected, the FSC can send the case directly to the prosecution.

Previously, prosecutors could begin an investigation only after the Korea Exchange and the FSS had examined the cases first... and then the FSC's Securities and Futures Commission would bring criminal charges against the suspect -- a lengthy process that could take years.

With the special police power, FSC and FSS investigators will be authorized to trace a suspect's bank account and call history and ask the prosecution to bar the person from leaving the country.

The FSC plans to set up an internal body of investigators charged with tracking illegal stock market activity.

The government will also toughen penalties for stock market manipulators.

Offenders who get jail terms will automatically get a fine as well... and the government will confiscate at least twice the amount of undue profits he raked in.

People reporting unfair and illegal practices in the stock market will receive a reward of up to 2 billion won, or 1-point-8 million U.S. dollars.

The government initiative comes amid a rise in stock market crime.

In 2012, the Financial Supervisory Service investigated a total of 243 cases of stock market manipulation, up 16-percent from the year before.

Kim Yeon-ji, Arirang News.


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