“The information provided by informants plays a critical role in improper stock trading investigations,” said an FSS official. (image: KobizMedia/ Korea Bizwire)
SEOUL, May 19 (Korea Bizwire) – Korea’s Financial Supervisory Service (FSS) revealed Monday that two informants of improper stock trading were rewarded 59.2 million and 8.55 million won each.
The 59.2 million won award is the most that has ever been rewarded to an informant of improper stock trading. The highest reward up until now was 33.2 million won in 2014.
The FSS’s policy to offer monetary rewards to informants who provide critical information to improper stock trading investigations was implemented in 2000. Improper stock trading includes stock manipulation, market price control, and use of nonpublic information.
The upper limit for rewards was lifted from its initial 5 million won limit to 100 million won in 2004, and ultimately to 2 billion won in 2013. The FSS calculates the reward based on the level of the informant’s contribution.
The total sum of distributed rewards increased from 41.4 million won (six times) in 2013 to 104.1 million won (12 times) in 2014. However, the number shrank to 59 million (three times) in 2015.
“The information provided by informants plays a critical role in improper stock trading investigations,” said an FSS official. “We’ll continue to offer not only monetary rewards but better identity protection of the informants to encourage the public to come forward.”
By Lina Jang (linajang@koreabizwire.com)
