fat-finger Archives | Be Korea-savvy
8 Samsung Securities Officials to Stand Trial over Stock Blunder

8 Samsung Securities Officials to Stand Trial over Stock Blunder

SEOUL, Jul. 9 (Korea Bizwire) — Eight Samsung Securities officials have been indicted for selling “ghost” stocks that were mistakenly issued by the company in the massive fat-finger error that recently rattled the market, prosecutors said Monday. Three employees, including a 37-year-old surnamed Koo, will stand trial while being detained, with five others from the [...]

Samsung Securities to Pay Huge Price for Its Fat-finger Error

Samsung Securities to Pay Huge Price for Its Fat-finger Error

SEJONG, June 23 (Korea Bizwire) — The financial watchdog’s punishment against Samsung Securities Co. over its fat-finger error will not make a financial dent, but it could weaken its market position in the long run, experts said Saturday. On Thursday, the Financial Supervisory Service (FSS) decided to recommend that Samsung Securities should face a six-month [...]

Prosecutors Launch Probe into Samsung Securities’ Stock Blunder

Prosecutors Launch Probe into Samsung Securities’ Stock Blunder

SEOUL, May 24 (Korea Bizwire) — Prosecutors said Thursday they launched an investigation into officials of Samsung Securities Co. over the massive dividend error in April that jolted the local financial market. The Seoul Southern District Prosecutors’ Office said a probe has begun based on the complaint filed by the Financial Supervisory Service early this [...]

Regulator Inspects Samsung Securities over ‘Fat-finger’ Dividend Chaos

Regulator Inspects Samsung Securities over ‘Fat-finger’ Dividend Chaos

SEOUL, Apr. 9 (Korea Bizwire) — South Korea’s financial regulator on Monday launched a special inspection into Samsung Securities Co. over the brokerage’s “fat-finger” trading chaos after it paid windfall stocks to its employees as dividends. Under an employee stock ownership plan, Samsung Securities had been planning to pay cash dividends of 1,000 won (US$0.93) [...]